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

Innodata (NASDAQ:INOD) was upgraded by investment analysts at StockNews.com to a “sell” rating in a note issued to investors on Friday.

A number of other equities analysts have also recently issued reports on INOD. BWS Financial raised their target price 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 initiated coverage on Innodata in a research report on Monday, July 15th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Craig Hallum began coverage on Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Innodata has an average rating of “Moderate Buy” and a consensus price target of $27.67.

Innodata Trading Down 0.3 %

Innodata stock opened at $15.91 on Friday. Innodata has a 1 year low of $5.46 and a 1 year high of $21.58. The firm’s 50-day moving average is $16.72 and its 200-day moving average is $12.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $457.46 million, a P/E ratio of 265.17 and a beta of 2.32.

Hedge Funds Weigh In On Innodata

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its stake in Innodata by 128.5% during the 1st quarter. GSA Capital Partners LLP now owns 137,664 shares of the technology company’s stock valued at $909,000 after buying an additional 77,410 shares during the period. Vanguard Group Inc. increased its stake in shares of Innodata by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after acquiring an additional 28,173 shares during the period. Rathbones Group PLC bought a new stake in Innodata during the second quarter worth approximately $916,000. Price T Rowe Associates Inc. MD lifted its position in Innodata by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after purchasing an additional 982 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Innodata by 11.2% in 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 period. 30.75% of the stock is owned by institutional investors.

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.