Short Interest in Innodata Inc. (NASDAQ:INOD) Rises By 14.2%

Innodata Inc. (NASDAQ:INOD) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,850,000 shares, an increase of 14.2% from the December 15th total of 3,370,000 shares. Based on an average daily volume of 1,590,000 shares, the short-interest ratio is presently 2.4 days.

Innodata Stock Down 0.8 %

NASDAQ INOD traded down $0.31 during trading hours on Friday, reaching $36.78. 794,625 shares of the company’s stock traded hands, compared to its average volume of 1,429,272. Innodata has a 52-week low of $5.46 and a 52-week high of $55.17. The firm has a market cap of $1.07 billion, a PE ratio of 62.34 and a beta of 2.59. The firm has a 50-day simple moving average of $40.53 and a 200 day simple moving average of $25.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Insider Activity at Innodata

In related news, CFO Marissa B. Espineli sold 38,333 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $47.17, for a total transaction of $1,808,167.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the transaction, the director now directly owns 25,262 shares in the company, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,035,083 shares of company stock valued at $46,889,370. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in Innodata during the 4th quarter valued at about $775,000. Hennion & Walsh Asset Management Inc. purchased a new position in Innodata in the fourth quarter worth about $371,000. USA Financial Formulas purchased a new position in Innodata in the fourth quarter worth about $36,000. Harbour Capital Advisors LLC purchased a new position in Innodata in the fourth quarter worth about $292,000. Finally, Silverleafe Capital Partners LLC purchased a new position in Innodata in the fourth quarter worth about $913,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INOD has been the topic of a number of recent analyst reports. BWS Financial raised their price target on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Chardan Capital reissued a “buy” rating and issued a $45.00 price target on shares of Innodata in a report on Friday, December 13th. Wedbush initiated coverage on shares of Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target on the stock. Finally, StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.20.

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.