Innodata (NASDAQ:INOD) Stock Rating Upgraded by StockNews.com

Innodata (NASDAQ:INOD) was upgraded by stock analysts at StockNews.com to a “sell” rating in a report released on Friday.

Several other research firms have also recently issued reports on INOD. Craig Hallum assumed coverage on Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target for the company. Maxim Group started coverage on shares of Innodata in a research note on Monday, July 15th. They set a “buy” rating and a $30.00 target price on the stock. Finally, BWS Financial upped their price target on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Innodata Stock Performance

Shares of INOD stock opened at $42.78 on Friday. Innodata has a 12-month low of $5.46 and a 12-month high of $43.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 475.39 and a beta of 2.30. The business has a 50 day simple moving average of $17.71 and a 200 day simple moving average of $15.73.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC acquired a new position in shares of Innodata in the 1st quarter worth approximately $8,142,000. Deerfield Management Company L.P. Series C increased its holdings in shares of Innodata by 309.5% in the second quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock valued at $1,658,000 after buying an additional 84,509 shares in the last quarter. Rathbones Group PLC acquired a new stake in shares of Innodata during the 2nd quarter valued at $916,000. Marshall Wace LLP boosted its stake in shares of Innodata by 83.9% during the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after acquiring an additional 38,954 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Innodata by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after acquiring an additional 28,173 shares during the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

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.