Chardan Capital Reaffirms Buy Rating for Innodata (NASDAQ:INOD)

Chardan Capital restated their buy rating on shares of Innodata (NASDAQ:INOD - Free Report) in a research note issued to investors on Friday,Benzinga reports. Chardan Capital currently has a $45.00 price objective on the technology company's stock.

INOD has been the subject of several other reports. BWS Financial lifted their price target on shares of Innodata from $30.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, November 8th. StockNews.com upgraded Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Finally, Craig Hallum started coverage on Innodata in a research note on Tuesday, September 17th. They set a "buy" rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Innodata has an average rating of "Moderate Buy" and a consensus target price of $35.75.

Innodata Trading Down 1.5 %

INOD traded down $0.53 during trading on Friday, hitting $34.50. The company's stock had a trading volume of 2,217,920 shares, compared to its average volume of 816,826. The firm has a market capitalization of $1.00 billion, a P/E ratio of 58.48 and a beta of 2.56. Innodata has a twelve month low of $5.46 and a twelve month high of $55.17. The stock's fifty day moving average price is $30.45 and its 200-day moving average price is $21.08. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15.

Insider Transactions at Innodata

In related news, Director Nauman Sabeeh Toor sold 200,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $45.37, for a total transaction of $9,074,000.00. Following the transaction, the director now directly owns 319,401 shares of the company's stock, valued at $14,491,223.37. This trade represents a 38.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stewart R. Massey sold 50,000 shares of Innodata stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value of $2,027,500.00. Following the sale, the director now owns 25,262 shares in the company, valued at $1,024,374.10. This trade represents a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 924,876 shares of company stock valued at $42,040,262 over the last three months. Corporate insiders own 15.23% of the company's stock.

Institutional Trading of Innodata

A number of large investors have recently added to or reduced their stakes in INOD. nVerses Capital LLC purchased a new stake in shares of Innodata during the 2nd quarter worth approximately $27,000. Point72 Asset Management L.P. bought a new position in Innodata during the third quarter valued at $206,000. BNP Paribas Financial Markets increased its position in Innodata by 38.5% in the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock worth $225,000 after buying an additional 3,739 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company's stock valued at $250,000 after buying an additional 2,207 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Innodata by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company's stock valued at $102,000 after buying an additional 982 shares during the last quarter. Hedge funds and other institutional investors 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.