Wedbush Begins Coverage on Innodata (NASDAQ:INOD)

Analysts at Wedbush initiated coverage on shares of Innodata (NASDAQ:INOD - Get Free Report) in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm set an "outperform" rating and a $48.00 price target on the technology company's stock. Wedbush's price target would suggest a potential upside of 20.72% from the stock's current price.

Several other research firms have also recently issued reports on INOD. Chardan Capital reaffirmed a "buy" rating and set a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. StockNews.com raised shares of Innodata from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. BWS Financial increased 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, November 8th. Finally, Craig Hallum assumed coverage on shares of Innodata in a research note on Tuesday, September 17th. They issued a "buy" rating and a $23.00 price objective for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.20.

Innodata Trading Up 16.3 %

NASDAQ INOD traded up $5.57 on Thursday, reaching $39.76. The stock had a trading volume of 2,626,385 shares, compared to its average volume of 833,173. Innodata has a 12-month low of $5.46 and a 12-month high of $55.17. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average price of $32.09 and a two-hundred day moving average price of $21.79. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 67.39 and a beta of 2.56.

Insider Transactions at Innodata

In related news, Director Stewart R. Massey sold 50,000 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total value of $2,027,500.00. Following the sale, the director now directly owns 25,262 shares of the company's stock, valued at $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nauman Sabeeh Toor sold 200,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $45.37, for a total transaction of $9,074,000.00. Following the sale, the director now owns 319,401 shares in the company, valued at approximately $14,491,223.37. This trade represents a 38.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 924,876 shares of company stock worth $42,040,262. 15.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C grew its holdings in shares of 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 during the last quarter. Rathbones Group PLC acquired a new stake in Innodata during the second quarter valued at $916,000. Marshall Wace LLP grew its stake in Innodata by 83.9% in the second quarter. Marshall Wace LLP now owns 85,395 shares of the technology company's stock valued at $1,266,000 after purchasing an additional 38,954 shares in the last quarter. Barclays PLC raised its stake in shares of Innodata by 324.3% during the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company's stock worth $647,000 after purchasing an additional 29,470 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Innodata during the 2nd quarter valued at about $381,000. 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.