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

StockNews.com upgraded shares of Innodata (NASDAQ:INOD) to a sell rating in a report issued on Friday morning.

Other analysts have also recently issued research reports about the stock. Craig Hallum began coverage on shares of Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target on the stock. BWS Financial upped their target price on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday. Finally, Maxim Group began coverage on shares of Innodata in a research report on Monday, July 15th. They set a “buy” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

Innodata Stock Up 7.3 %

Shares of INOD stock opened at $45.90 on Friday. The stock has a market cap of $1.33 billion, a P/E ratio of 79.88 and a beta of 2.30. Innodata has a 52 week low of $5.46 and a 52 week high of $47.81. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $17.71 and its two-hundred day simple moving average is $15.80.

Hedge Funds Weigh In On Innodata

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Innodata by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after purchasing an additional 28,173 shares during the last quarter. Rathbones Group PLC bought a new position in Innodata during the 2nd quarter valued at about $916,000. Price T Rowe Associates Inc. MD grew its stake in Innodata by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after acquiring an additional 982 shares in the last quarter. Deerfield Management Company L.P. Series C grew its stake in Innodata by 309.5% in 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 in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Innodata by 11.2% in the 1st quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock worth $147,000 after acquiring an additional 2,230 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.

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.