Innodata (NASDAQ:INOD) Stock Price Expected to Rise, BWS Financial Analyst Says

Innodata (NASDAQ:INOD) had its price target hoisted by research analysts at BWS Financial from $30.00 to $45.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. BWS Financial’s price objective would indicate a potential upside of 5.31% from the company’s previous close.

A number of other research analysts have also recently weighed in on INOD. Craig Hallum began coverage on shares of Innodata in a research note on Tuesday, September 17th. They set a “buy” rating and a $23.00 price objective for the company. Maxim Group assumed coverage on Innodata in a report on Monday, July 15th. They issued a “buy” rating and a $30.00 price target for the company. Finally, StockNews.com upgraded Innodata to a “sell” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.67.

Innodata Price Performance

Shares of INOD traded up $18.39 on Friday, reaching $42.73. The stock had a trading volume of 9,425,733 shares, compared to its average volume of 657,634. The firm has a 50-day moving average of $17.20 and a 200 day moving average of $15.40. The firm has a market capitalization of $1.24 billion, a PE ratio of 72.42 and a beta of 2.30. Innodata has a twelve month low of $5.46 and a twelve month high of $43.65. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

Hedge Funds Weigh In On Innodata

Hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new position in shares of Innodata during the second quarter worth $27,000. Elkhorn Partners Limited Partnership acquired a new position in Innodata in the 1st quarter worth $94,000. Price T Rowe Associates Inc. MD boosted 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 valued at $102,000 after buying an additional 982 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Innodata by 11.2% during the first quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock valued at $147,000 after acquiring an additional 2,230 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Innodata by 17.4% during the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after acquiring an additional 2,207 shares during the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

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.