Innodata (NASDAQ:INOD) Upgraded by StockNews.com to “Sell”

StockNews.com upgraded shares of Innodata (NASDAQ:INOD) to a sell rating in a research report report published on Friday.

Several other equities research analysts also recently commented on the stock. Maxim Group assumed coverage on shares of Innodata in a research report on Monday, July 15th. They issued a buy rating and a $30.00 price target for the company. BWS Financial increased their target price on Innodata from $24.00 to $30.00 and gave the company a buy rating in a report on Friday, August 9th. Finally, Craig Hallum started coverage on Innodata in a research report on Tuesday, September 17th. They issued a buy rating and a $23.00 target price for the company. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $27.67.

Innodata Trading Up 5.4 %

Shares of INOD opened at $16.77 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.24. Innodata has a 1-year low of $5.46 and a 1-year high of $21.58. The stock has a market capitalization of $482.19 million, a P/E ratio of 271.00 and a beta of 2.32. The business’s 50-day moving average price is $16.72 and its 200 day moving average price is $13.04.

Institutional Investors Weigh In On Innodata

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new stake in Innodata in the second quarter worth approximately $27,000. Elkhorn Partners Limited Partnership bought a new position in Innodata during the first quarter valued at about $94,000. Price T Rowe Associates Inc. MD lifted 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 during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Innodata by 11.2% during the 1st quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock worth $147,000 after acquiring an additional 2,230 shares in the last quarter. Finally, Platform Technology Partners increased its holdings in shares of Innodata by 5.2% during the 4th quarter. Platform Technology Partners now owns 28,661 shares of the technology company’s stock valued at $233,000 after acquiring an additional 1,408 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.