Innodata Inc. (NASDAQ:INOD) Short Interest Update

Innodata Inc. (NASDAQ:INOD) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 4,100,000 shares, an increase of 7.6% from the September 30th total of 3,810,000 shares. Based on an average daily trading volume, of 528,300 shares, the short-interest ratio is currently 7.8 days.

Innodata Trading Down 6.2 %

Innodata stock traded down $1.32 during mid-day trading on Thursday, hitting $20.11. The stock had a trading volume of 808,474 shares, compared to its average volume of 612,450. The stock has a market capitalization of $582.97 million, a PE ratio of 223.44 and a beta of 2.31. Innodata has a 12 month low of $5.46 and a 12 month high of $21.90. 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 stock has a 50-day simple moving average of $16.76 and a two-hundred day simple moving average of $14.79.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Maxim Group assumed coverage on Innodata in a research report on Monday, July 15th. They set a “buy” rating and a $30.00 price target on the stock. Craig Hallum assumed coverage on Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price on the stock. BWS Financial lifted their price target on Innodata from $24.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com raised shares of Innodata to a “sell” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.67.

Institutional Investors Weigh In On Innodata

A number of institutional investors and hedge funds have recently modified their holdings of INOD. Vanguard Group Inc. grew its holdings in Innodata by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after acquiring an additional 28,173 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Innodata during the first quarter worth $8,142,000. GSA Capital Partners LLP grew its stake in shares of Innodata by 128.5% during the first 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 period. Deerfield Management Company L.P. Series C increased its holdings in Innodata by 309.5% in the second 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 during the last quarter. Finally, Marshall Wace LLP lifted its stake in 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 during the period. 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.