Innodata (NASDAQ:INOD) Trading Up 8.4%

Innodata Inc. (NASDAQ:INOD) rose 8.4% during trading on Monday . The company traded as high as $18.52 and last traded at $18.49. Approximately 361,637 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 651,028 shares. The stock had previously closed at $17.06.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com cut Innodata from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. Maxim Group began coverage on Innodata in a report on Monday, July 15th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, BWS Financial upped their price target on shares of Innodata from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th.

Innodata Trading Up 0.7 %

The firm has a market cap of $531.64 million, a price-to-earnings ratio of 308.17 and a beta of 2.33. The business has a fifty day moving average of $16.69 and a two-hundred day moving average of $11.61. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.46 and a current ratio of 1.46.

Institutional Investors Weigh In On Innodata

Institutional investors and hedge funds have recently made changes to their positions in the business. White Pine Capital LLC raised its position in shares of Innodata by 13.0% during the 4th quarter. White Pine Capital LLC now owns 130,734 shares of the technology company’s stock worth $1,064,000 after purchasing an additional 15,055 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Innodata during the fourth quarter valued at $53,000. Private Advisor Group LLC increased its position in Innodata by 8.5% during the 4th quarter. Private Advisor Group LLC now owns 12,700 shares of the technology company’s stock worth $103,000 after purchasing an additional 1,000 shares in the last quarter. Montag A & Associates Inc. acquired a new position in Innodata in the 4th quarter valued at about $33,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in Innodata in the 4th quarter valued at about $187,000. 30.75% of the stock is currently owned by hedge funds and other 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.