Innodata Inc. (NASDAQ:INOD) Short Interest Update

Innodata Inc. (NASDAQ:INOD) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 3,810,000 shares, an increase of 19.4% from the September 15th total of 3,190,000 shares. Based on an average daily volume of 574,800 shares, the days-to-cover ratio is presently 6.6 days.

Innodata Stock Up 1.8 %

Shares of NASDAQ INOD traded up $0.31 during trading on Wednesday, reaching $17.23. The company had a trading volume of 127,532 shares, compared to its average volume of 617,315. The business’s 50-day moving average is $16.27 and its 200 day moving average is $13.85. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The stock has a market cap of $495.41 million, a PE ratio of 282.00 and a beta of 2.31. Innodata has a 12-month low of $5.46 and a 12-month high of $21.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INOD. Vanguard Group Inc. raised its stake in 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 buying an additional 28,173 shares during the last quarter. Janus Henderson Group PLC bought a new position in Innodata in the first quarter valued at about $8,142,000. GSA Capital Partners LLP boosted its position in Innodata by 128.5% in the first quarter. GSA Capital Partners LLP now owns 137,664 shares of the technology company’s stock worth $909,000 after purchasing an additional 77,410 shares during the last quarter. Deerfield Management Company L.P. Series C grew its stake in shares of Innodata by 309.5% during the 2nd 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 purchasing an additional 84,509 shares during the period. Finally, Marshall Wace LLP increased its position 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 valued at $1,266,000 after purchasing an additional 38,954 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. 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 report on Friday, August 9th. Maxim Group assumed coverage on Innodata in a report on Monday, July 15th. They set a “buy” rating and a $30.00 price objective for the company. Craig Hallum began 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. Finally, StockNews.com raised Innodata to a “sell” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat.com, Innodata has an average rating of “Moderate Buy” and a consensus price target of $27.67.

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.