Innodata (NASDAQ:INOD) Reaches New 52-Week High Following Analyst Upgrade

Innodata Inc. (NASDAQ:INOD - Get Free Report) hit a new 52-week high during trading on Monday after StockNews.com upgraded the stock to a sell rating. The company traded as high as $44.49 and last traded at $43.68, with a volume of 345409 shares changing hands. The stock had previously closed at $42.78.

A number of other equities research analysts have also issued reports on INOD. Maxim Group began coverage on shares of Innodata in a report on Monday, July 15th. They issued a "buy" rating and a $30.00 price objective for the company. BWS Financial increased 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. Finally, Craig Hallum assumed coverage on Innodata in a report on Tuesday, September 17th. They issued a "buy" rating and a $23.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Innodata has a consensus rating of "Moderate Buy" and a consensus price target of $32.67.

Hedge Funds Weigh In On Innodata

Large investors have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new stake in Innodata in the second quarter valued at approximately $27,000. Elkhorn Partners Limited Partnership acquired a new stake in shares of Innodata in the first quarter valued at $94,000. Private Advisor Group LLC raised its holdings 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 valued at $250,000 after buying an additional 2,207 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in 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 worth $102,000 after acquiring an additional 982 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Innodata during the 3rd quarter valued at about $311,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Innodata Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 79.88 and a beta of 2.30. The firm has a 50-day simple moving average of $17.71 and a two-hundred day simple moving average of $15.80.

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.