Short Interest in Innodata Inc. (NASDAQ:INOD) Grows By 6.3%

Innodata Inc. (NASDAQ:INOD) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 2,890,000 shares, a growth of 6.3% from the May 31st total of 2,720,000 shares. Based on an average daily trading volume, of 747,200 shares, the days-to-cover ratio is currently 3.9 days.

Innodata Price Performance

Shares of NASDAQ INOD traded down $0.13 during mid-day trading on Wednesday, reaching $15.02. The company had a trading volume of 150,945 shares, compared to its average volume of 650,894. The company has a 50-day moving average price of $12.08 and a two-hundred day moving average price of $9.40. The stock has a market cap of $431.83 million, a PE ratio of 252.54 and a beta of 2.33. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.25. Innodata has a 1-year low of $5.46 and a 1-year high of $16.78.

Innodata (NASDAQ:INOD) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.03 earnings per share for the quarter. Innodata had a return on equity of 9.08% and a net margin of 2.33%. The firm had revenue of $26.50 million for the quarter. On average, equities analysts anticipate that Innodata will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

Separately, BWS Financial started coverage on shares of Innodata in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $24.00 price objective on the stock.

Institutional Investors Weigh In On Innodata

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Innodata by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after acquiring an additional 28,173 shares during the period. Janus Henderson Group PLC purchased a new position in Innodata during the first quarter valued at approximately $8,142,000. Plustick Management LLC increased its stake in Innodata by 2.6% in the 4th quarter. Plustick Management LLC now owns 400,000 shares of the technology company’s stock valued at $3,256,000 after buying an additional 10,000 shares during the period. Essex Investment Management Co. LLC purchased a new stake in Innodata in the 4th quarter worth approximately $1,299,000. Finally, Trexquant Investment LP boosted its stake in shares of Innodata by 359.9% during the 3rd quarter. Trexquant Investment LP now owns 141,810 shares of the technology company’s stock valued at $1,210,000 after buying an additional 110,978 shares during the period. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Company Profile

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.