StockNews.com Upgrades Innodata (NASDAQ:INOD) to Hold

Innodata (NASDAQ:INOD) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

Other equities analysts also recently issued research reports about the company. Craig Hallum began coverage on Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. BWS Financial upped their price objective on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.67.

Innodata Stock Performance

Shares of INOD stock opened at $36.75 on Friday. Innodata has a 52 week low of $5.46 and a 52 week high of $49.72. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 62.29 and a beta of 2.30. The company has a 50-day simple moving average of $20.30 and a 200 day simple moving average of $16.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Insiders Place Their Bets

In other news, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now directly owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC acquired a new stake in Innodata during the first quarter worth about $8,142,000. Deerfield Management Company L.P. Series C lifted its holdings in shares of Innodata by 309.5% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock worth $1,658,000 after acquiring an additional 84,509 shares during the period. Rathbones Group PLC acquired a new stake in shares of Innodata during the 2nd quarter worth approximately $916,000. Marshall Wace LLP increased its stake in Innodata by 83.9% in the second quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock valued at $1,266,000 after acquiring an additional 38,954 shares during the last quarter. Finally, Barclays PLC raised its position in Innodata by 324.3% during the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock valued at $647,000 after purchasing an additional 29,470 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

About Innodata

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.