Innodata (NASDAQ:INOD) Coverage Initiated at Craig Hallum

Craig Hallum began coverage on shares of Innodata (NASDAQ:INOD) in a report released on Tuesday, MarketBeat reports. The firm issued a buy rating and a $23.00 price objective on the technology company’s stock.

A number of other brokerages have also recently issued reports on INOD. BWS Financial boosted their price objective on Innodata from $24.00 to $30.00 and gave the company a buy rating in a research note on Friday, August 9th. StockNews.com cut shares of Innodata from a hold rating to a sell rating in a research note on Monday, August 12th. Finally, Maxim Group assumed coverage on shares of Innodata in a research note on Monday, July 15th. They issued a buy rating and a $30.00 price objective for the company. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $27.67.

Innodata Stock Performance

NASDAQ:INOD opened at $14.31 on Tuesday. The company has a market capitalization of $411.46 million, a P/E ratio of 238.50 and a beta of 2.32. The business has a fifty day simple moving average of $17.16 and a two-hundred day simple moving average of $12.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.45. Innodata has a 1 year low of $5.46 and a 1 year high of $21.58.

Institutional Investors Weigh In On Innodata

Several hedge funds and other institutional investors have recently modified their holdings of INOD. nVerses Capital LLC bought a new position in shares of Innodata in the second quarter valued at approximately $27,000. Victory Capital Management Inc. purchased a new position in shares of Innodata during the 4th quarter valued at $53,000. Elkhorn Partners Limited Partnership bought a new position in shares of Innodata in the first quarter worth $94,000. Price T Rowe Associates Inc. MD raised its position in shares of 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 buying an additional 982 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Innodata by 8.5% in the fourth quarter. Private Advisor Group LLC now owns 12,700 shares of the technology company’s stock worth $103,000 after buying an additional 1,000 shares in the last quarter. 30.75% of the stock is currently 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.