Innodata (NASDAQ:INOD) Sets New 52-Week High – Time to Buy?

Innodata Inc. (NASDAQ:INOD) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $55.45 and last traded at $52.90, with a volume of 1043849 shares trading hands. The stock had previously closed at $52.29.

Analyst Ratings Changes

INOD has been the topic of several research reports. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Wedbush initiated coverage on Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective on the stock. Chardan Capital restated a “buy” rating and set a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. Finally, BWS Financial upped their price objective on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Innodata Price Performance

The company has a market capitalization of $1.53 billion, a P/E ratio of 89.45 and a beta of 2.57. The company has a fifty day moving average price of $39.44 and a 200 day moving average price of $28.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Insider Activity

In related news, COO Ashok Mishra sold 92,726 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total value of $4,002,054.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marissa B. Espineli sold 38,333 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $47.17, for a total value of $1,808,167.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 985,083 shares of company stock valued at $44,861,870. 15.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Innodata

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. bought a new position in Innodata in the 3rd quarter worth approximately $311,000. Jennison Associates LLC bought a new position in Innodata during the 4th quarter valued at $402,000. Los Angeles Capital Management LLC bought a new position in Innodata during the 3rd quarter valued at $330,000. Geode Capital Management LLC boosted its stake in Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after purchasing an additional 13,609 shares in the last quarter. Finally, Silverleafe Capital Partners LLC bought a new position in Innodata during the 4th quarter valued at $913,000. 30.75% of the stock is 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.