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

Innodata Inc. (NASDAQ:INOD - Get Free Report) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 3,370,000 shares, a growth 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.

Analyst Ratings Changes

Several research firms recently weighed in on INOD. StockNews.com raised shares of Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. BWS Financial boosted their price target on shares of Innodata from $30.00 to $45.00 and gave the company a "buy" rating in a report on Friday, November 8th. Wedbush initiated coverage on shares of Innodata in a research report on Thursday, December 19th. They issued an "outperform" rating and a $48.00 price objective for the company. Chardan Capital reiterated a "buy" rating and set a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Finally, Craig Hallum assumed coverage on Innodata in a report on Tuesday, September 17th. They issued a "buy" rating and a $23.00 price target for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.20.

Innodata Stock Down 6.1 %

Shares of INOD traded down $2.57 during midday trading on Tuesday, hitting $39.52. The stock had a trading volume of 994,684 shares, compared to its average volume of 852,174. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 66.98 and a beta of 2.56. The company has a 50 day simple moving average of $36.19 and a two-hundred day simple moving average of $23.42. Innodata has a twelve month low of $5.46 and a twelve month high of $55.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Insiders Place Their Bets

In other Innodata news, CFO Marissa B. Espineli sold 38,333 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $47.17, for a total value of $1,808,167.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the business's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $44.00, for a total value of $4,849,108.00. Following the transaction, the director now owns 209,194 shares of the company's stock, valued at $9,204,536. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,035,083 shares of company stock valued at $46,889,370. Company insiders own 15.23% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of INOD. nVerses Capital LLC bought a new position in shares of Innodata during the 2nd quarter worth approximately $27,000. Point72 Asset Management L.P. bought a new position in Innodata in the third quarter valued at $206,000. BNP Paribas Financial Markets increased its stake in Innodata by 38.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock valued at $225,000 after buying an additional 3,739 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Innodata by 17.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company's stock worth $242,000 after buying an additional 2,099 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company's stock worth $250,000 after buying an additional 2,207 shares during 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.