Innodata Inc. (NASDAQ:INOD) Short Interest Update

Innodata Inc. (NASDAQ:INOD) was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 3,260,000 shares, a growth of 10.1% from the July 31st total of 2,960,000 shares. Based on an average daily volume of 563,200 shares, the days-to-cover ratio is currently 5.8 days.

Innodata Stock Performance

INOD traded down $1.32 during trading on Tuesday, hitting $15.96. The stock had a trading volume of 240,805 shares, compared to its average volume of 641,680. The firm has a market cap of $458.90 million, a PE ratio of 264.83 and a beta of 2.33. Innodata has a 12 month low of $5.46 and a 12 month high of $21.58. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.24. The company has a 50 day simple moving average of $17.23 and a 200-day simple moving average of $11.96.

Institutional Trading of Innodata

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP grew its position in 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 during the last quarter. Essex Investment Management Co. LLC acquired a new stake in Innodata in the 4th quarter worth $1,299,000. Vanguard Group Inc. grew its position in Innodata by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after purchasing an additional 28,173 shares during the last quarter. Private Advisor Group LLC grew its position in Innodata by 8.5% in the 4th quarter. Private Advisor Group LLC now owns 12,700 shares of the technology company’s stock worth $103,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Innodata by 6.8% in the 1st 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 last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INOD has been the topic of several recent analyst reports. StockNews.com downgraded shares of Innodata from a “hold” rating to a “sell” rating in a report on Monday, August 12th. BWS Financial lifted 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. Finally, Maxim Group initiated coverage on shares of Innodata in a report on Monday, July 15th. They issued a “buy” rating and a $30.00 target price on the 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.