Innodata (NASDAQ:INOD) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Innodata (NASDAQ:INOD) from a sell rating to a hold rating in a research report released on Saturday morning.

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

Innodata Stock Up 7.8 %

INOD opened at $44.68 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a fifty day moving average of $20.84 and a 200-day moving average of $17.29. Innodata has a fifty-two week low of $5.46 and a fifty-two week high of $49.72. The company has a market capitalization of $1.30 billion, a P/E ratio of 75.73 and a beta of 2.30.

Insider Buying and Selling

In other Innodata news, Director Stewart R. Massey sold 50,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Ashok Mishra sold 92,726 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total transaction of $4,002,054.16. The disclosure for this sale can be found here. 15.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Innodata

A number of institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in Innodata during the 2nd quarter worth $27,000. Point72 Asset Management L.P. acquired a new position in Innodata in the third quarter valued at $206,000. BNP Paribas Financial Markets boosted its position in Innodata by 38.5% during the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after acquiring an additional 3,739 shares during the last quarter. Elkhorn Partners Limited Partnership acquired a new stake in Innodata during the 1st quarter worth about $94,000. Finally, Private Advisor Group LLC raised its position in shares of Innodata by 17.4% in the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after acquiring an additional 2,207 shares in the last quarter. 30.75% of the stock is owned by institutional investors.

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.