Innodata (NASDAQ:INOD) Sees Strong Trading Volume – Should You Buy?

Innodata Inc. (NASDAQ:INOD) shares saw unusually-high trading volume on Tuesday . Approximately 472,090 shares traded hands during trading, a decline of 30% from the previous session’s volume of 674,021 shares.The stock last traded at $48.63 and had previously closed at $45.90.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on INOD shares. BWS Financial lifted their price objective on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. 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 price target on the stock. Finally, StockNews.com upgraded shares of Innodata to a “sell” rating in a research report on Friday, November 8th. One equities research 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 has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

Innodata Stock Down 14.5 %

The firm’s 50 day simple moving average is $18.88 and its two-hundred day simple moving average is $16.36. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 66.75 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Institutional Investors Weigh In On Innodata

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in Innodata by 38.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after acquiring an additional 3,739 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Innodata by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock worth $1,291,000 after purchasing an additional 1,843 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Innodata during the third quarter worth about $330,000. Principal Financial Group Inc. bought a new position in Innodata in the 3rd quarter valued at about $311,000. Finally, Private Advisor Group LLC raised its position 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 valued at $250,000 after buying an additional 2,207 shares in the last quarter. Institutional investors and hedge funds 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.