Innodata (NASDAQ:INOD) Upgraded to “Sell” at StockNews.com

Innodata (NASDAQ:INOD) was upgraded by StockNews.com to a “sell” rating in a research report issued on Friday.

Other analysts have also recently issued reports about the stock. Craig Hallum started coverage on shares of Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. Maxim Group started coverage on shares of Innodata in a research report on Monday, July 15th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, 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 report on Friday. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Innodata Stock Performance

Shares of Innodata stock traded up $18.44 on Friday, reaching $42.78. 9,581,455 shares of the company traded hands, compared to its average volume of 658,426. Innodata has a 52 week low of $5.46 and a 52 week high of $43.65. The company has a 50 day moving average of $17.71 and a 200 day moving average of $15.66. The firm has a market capitalization of $1.24 billion, a PE ratio of 72.51 and a beta of 2.30. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.45.

Hedge Funds Weigh In On Innodata

Several institutional investors and hedge funds have recently made changes to their positions in INOD. BNP Paribas Financial Markets grew its holdings in shares of Innodata by 11.2% during the 1st quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock valued at $147,000 after purchasing an additional 2,230 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Innodata by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after purchasing an additional 28,173 shares during the last quarter. Elkhorn Partners Limited Partnership bought a new position in shares of Innodata during the 1st quarter valued at $94,000. 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 valued at $102,000 after purchasing an additional 982 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Innodata during the 1st quarter valued at $8,142,000. Institutional investors 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.