Innodata (NASDAQ:INOD) Downgraded by StockNews.com

StockNews.com lowered shares of Innodata (NASDAQ:INOD) from a hold rating to a sell rating in a research report sent to investors on Monday.

A number of other analysts have also weighed in on INOD. BWS Financial increased 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. Maxim Group assumed coverage on shares of Innodata in a report on Monday, July 15th. They set a buy rating and a $30.00 target price for the company.

Innodata Stock Performance

Innodata stock opened at $16.49 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average of $16.44 and a 200-day moving average of $11.36. The firm has a market cap of $474.14 million, a P/E ratio of 274.83 and a beta of 2.33. Innodata has a 1-year low of $5.46 and a 1-year high of $21.58.

Institutional Trading of Innodata

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Innodata by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after buying an additional 28,173 shares during the period. Janus Henderson Group PLC purchased a new stake in Innodata in the first quarter worth about $8,142,000. Plustick Management LLC lifted its holdings in Innodata by 2.6% in the fourth quarter. Plustick Management LLC now owns 400,000 shares of the technology company’s stock worth $3,256,000 after buying an additional 10,000 shares during the period. Essex Investment Management Co. LLC bought a new position in shares of Innodata during the fourth quarter valued at approximately $1,299,000. Finally, GSA Capital Partners LLP increased 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 valued at $909,000 after purchasing an additional 77,410 shares in the last quarter. 30.75% of the stock is currently owned by hedge funds and other 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.