Innodata (NASDAQ:INOD) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Innodata (NASDAQ:INOD) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Other research analysts have also issued research reports about the company. Craig Hallum began coverage on Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price objective for the company. BWS Financial raised their price target on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.67.

Innodata Stock Performance

INOD opened at $36.75 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The stock 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 fifty day moving average of $20.30 and a 200 day moving average of $16.89. Innodata has a fifty-two week low of $5.46 and a fifty-two week high of $49.72.

Insider Activity

In other news, Director Stewart R. Massey sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INOD. Geode Capital Management LLC lifted its holdings in shares of Innodata by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after acquiring an additional 13,609 shares during the last quarter. Barclays PLC raised its position in Innodata by 324.3% in the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after purchasing an additional 29,470 shares during the period. State Street Corp lifted its stake in Innodata by 1.8% in the third quarter. State Street Corp now owns 537,301 shares of the technology company’s stock worth $9,011,000 after purchasing an additional 9,408 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Innodata during the third quarter valued at approximately $206,000. Finally, Centiva Capital LP purchased a new position in shares of Innodata during the third quarter valued at approximately $318,000. 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.