Innodata (NASDAQ:INOD) Reaches New 12-Month High – Still a Buy?

Innodata Inc. (NASDAQ:INOD)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $21.99 and last traded at $21.89, with a volume of 101475 shares traded. The stock had previously closed at $20.64.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com upgraded Innodata to a “sell” rating in a research note on Wednesday, October 23rd. Maxim Group assumed coverage on shares of Innodata in a research note on Monday, July 15th. They set a “buy” rating and a $30.00 price target on the stock. BWS Financial raised 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, Craig Hallum began coverage on shares of Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.67.

Innodata Trading Up 5.4 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.45. The business has a 50-day simple moving average of $16.88 and a two-hundred day simple moving average of $15.16. The stock has a market cap of $630.53 million, a price-to-earnings ratio of 245.36 and a beta of 2.30.

Hedge Funds Weigh In On Innodata

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew 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 worth $9,639,000 after buying an additional 28,173 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Innodata during the 1st quarter worth about $8,142,000. GSA Capital Partners LLP lifted its holdings in shares of Innodata by 128.5% in the 1st 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 in the last quarter. Deerfield Management Company L.P. Series C increased its stake in 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 in the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Innodata by 83.9% in the second quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock valued at $1,266,000 after buying an additional 38,954 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.