Innodata (NASDAQ:INOD) Sets New 1-Year High – Should You Buy?

Shares of Innodata Inc. (NASDAQ:INOD) reached a new 52-week high during trading on Tuesday . The stock traded as high as $21.66 and last traded at $21.59, with a volume of 299074 shares changing hands. The stock had previously closed at $20.49.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on INOD shares. StockNews.com upgraded shares of Innodata to a “sell” rating in a research report on Wednesday, October 23rd. Craig Hallum initiated coverage on shares of Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target for the company. BWS Financial upped their price objective on shares of Innodata from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Maxim Group initiated coverage on shares of Innodata in a research note on Monday, July 15th. They issued a “buy” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Innodata currently has a consensus rating of “Moderate Buy” and an average price target of $27.67.

Innodata Price Performance

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 company has a market capitalization of $617.61 million, a P/E ratio of 341.50 and a beta of 2.31. The business’s 50-day moving average price is $16.63 and its 200 day moving average price is $14.64.

Hedge Funds Weigh In On Innodata

A number of institutional investors have recently added to or reduced their stakes in INOD. nVerses Capital LLC bought a new position in shares of Innodata in the second quarter worth approximately $27,000. Elkhorn Partners Limited Partnership bought a new stake in shares of Innodata during the 1st quarter worth $94,000. Price T Rowe Associates Inc. MD raised its position in Innodata by 6.8% during the first 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 in the last quarter. BNP Paribas Financial Markets lifted its stake in Innodata by 11.2% during the first quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock worth $147,000 after purchasing an additional 2,230 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of Innodata by 17.4% in the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after purchasing an additional 2,207 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.

About Innodata

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.