Innodata Inc. (NASDAQ:INOD) Short Interest Up 21.7% in December

Innodata Inc. (NASDAQ:INOD) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 3,370,000 shares, an increase of 21.7% from the November 30th total of 2,770,000 shares. Based on an average trading volume of 1,440,000 shares, the short-interest ratio is presently 2.3 days.

Innodata Stock Down 6.1 %

Innodata stock traded down $2.57 during midday trading on Tuesday, reaching $39.52. The company’s stock had a trading volume of 994,684 shares, compared to its average volume of 852,174. The company has a market cap of $1.15 billion, a P/E ratio of 66.98 and a beta of 2.56. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $36.60 and a 200-day simple moving average of $23.59. Innodata has a fifty-two week low of $5.46 and a fifty-two week high of $55.17.

Insider Activity at Innodata

In other Innodata news, Director Stewart R. Massey sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total value of $2,027,500.00. Following the transaction, the director now directly owns 25,262 shares in the company, valued at $1,024,374.10. The trade was a 66.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Louise C. Forlenza sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $45.10, for a total transaction of $180,400.00. Following the sale, the director now owns 8,278 shares of the company’s stock, valued at $373,337.80. This represents a 32.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,035,083 shares of company stock valued at $46,889,370. Corporate insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

Institutional investors have recently modified their holdings of the stock. Deerfield Management Company L.P. Series C increased its position in Innodata by 309.5% during the second quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock worth $1,658,000 after buying an additional 84,509 shares during the period. Rathbones Group PLC purchased a new stake in Innodata in the 2nd quarter valued at $916,000. Marshall Wace LLP boosted its holdings in Innodata by 83.9% in the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock valued at $1,266,000 after purchasing an additional 38,954 shares in the last quarter. Barclays PLC increased its position in Innodata by 324.3% during the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after purchasing an additional 29,470 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Innodata during the 2nd quarter worth approximately $381,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on INOD. Chardan Capital reissued a “buy” rating and set a $45.00 target price on shares of Innodata in a research note on Friday, December 13th. Craig Hallum initiated coverage on shares of Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. Wedbush began coverage on shares of Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target for the company. BWS Financial upped their price objective on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.20.

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.