Innodata Inc. (NASDAQ:INOD) Short Interest Down 7.1% in October

Innodata Inc. (NASDAQ:INOD - Get Free Report) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 3,810,000 shares, a decline of 7.1% from the October 15th total of 4,100,000 shares. Based on an average trading volume of 732,800 shares, the short-interest ratio is currently 5.2 days.

Insider Activity at Innodata

In other news, Director Stewart R. Massey sold 50,000 shares of Innodata stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now owns 25,262 shares of the company's stock, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Innodata

Several hedge funds and other institutional investors have recently made changes to their positions in INOD. BNP Paribas Financial Markets lifted its position in shares of Innodata by 11.2% in the first quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company's stock valued at $147,000 after acquiring an additional 2,230 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Innodata by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company's stock valued at $9,639,000 after acquiring an additional 28,173 shares in the last quarter. Elkhorn Partners Limited Partnership purchased a new position in shares of Innodata in the first quarter valued at approximately $94,000. Price T Rowe Associates Inc. MD lifted its position in shares of Innodata by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company's stock valued at $102,000 after acquiring an additional 982 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in shares of Innodata in the first quarter valued at approximately $8,142,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

Analysts Set New Price Targets

INOD has been the subject of several research reports. Craig Hallum started coverage on shares of Innodata in a report on Tuesday, September 17th. They set a "buy" rating and a $23.00 price objective for the company. BWS Financial increased their price target on Innodata from $30.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, StockNews.com raised Innodata from a "sell" rating to a "hold" rating in a research report on Saturday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $32.67.

Innodata Price Performance

INOD traded up $4.81 during trading on Monday, hitting $41.56. The company's stock had a trading volume of 2,061,456 shares, compared to its average volume of 707,477. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata has a twelve month low of $5.46 and a twelve month high of $49.72. The business's fifty day simple moving average is $20.30 and its 200 day simple moving average is $17.05. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 70.65 and a beta of 2.30.

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.