Innodata (NASDAQ:INOD) Upgraded at StockNews.com

StockNews.com upgraded shares of Innodata (NASDAQ:INOD - Free Report) from a sell rating to a hold rating in a research note published on Saturday morning.

Several other equities research analysts have also recently weighed in on INOD. Craig Hallum initiated coverage on Innodata in a research note on Tuesday, September 17th. They set a "buy" rating and a $23.00 target price for the company. BWS Financial raised their price objective 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. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.67.

Innodata Stock Down 6.2 %

Shares of NASDAQ INOD traded down $2.41 during midday trading on Friday, hitting $36.75. The company's stock had a trading volume of 1,511,112 shares, compared to its average volume of 701,361. Innodata has a 1 year low of $5.46 and a 1 year high of $49.72. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 62.29 and a beta of 2.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The business's fifty day simple moving average is $20.30 and its two-hundred day simple moving average is $16.89.

Insiders Place Their Bets

In related news, Director Stewart R. Massey sold 50,000 shares of the firm's stock in a transaction that occurred 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 approximately $1,024,374.10. This trade represents a 66.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Innodata

Several institutional investors and hedge funds have recently bought and sold shares of INOD. Price T Rowe Associates Inc. MD grew its holdings 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 worth $102,000 after purchasing an additional 982 shares during the period. nVerses Capital LLC purchased a new stake in Innodata during the second quarter worth approximately $27,000. Charles Schwab Investment Management Inc. increased its position in shares of Innodata by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company's stock worth $1,291,000 after acquiring an additional 1,843 shares in the last quarter. Compass Ion Advisors LLC raised its stake in shares of Innodata by 5.6% in the 3rd quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company's stock valued at $632,000 after acquiring an additional 2,011 shares during the period. Finally, Private Advisor Group LLC lifted its holdings 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 valued at $250,000 after acquiring an additional 2,207 shares in the last quarter. Institutional investors and hedge funds 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.