Short Interest in Innodata Inc. (NASDAQ:INOD) Decreases By 7.1%

Innodata Inc. (NASDAQ:INOD) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 3,810,000 shares, a drop of 7.1% from the October 15th total of 4,100,000 shares. Based on an average trading volume of 732,800 shares, the short-interest ratio is presently 5.2 days.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BWS Financial raised their target price on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Craig Hallum started coverage on shares of Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.67.

Insiders Place Their Bets

In related news, Director Stewart R. Massey sold 50,000 shares of Innodata stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. This trade represents a 66.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.23% of the stock is owned by company insiders.

Institutional Trading of Innodata

Several institutional investors and hedge funds have recently modified their holdings of INOD. Price T Rowe Associates Inc. MD grew its stake in 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 purchasing an additional 982 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Innodata during the 2nd quarter worth $27,000. Charles Schwab Investment Management Inc. increased its stake in shares of Innodata by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock valued at $1,291,000 after buying an additional 1,843 shares during the period. Compass Ion Advisors LLC increased its stake in shares of Innodata by 5.6% during the third quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock valued at $632,000 after buying an additional 2,011 shares during the period. Finally, Private Advisor Group LLC raised its holdings in shares of Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,207 shares in the last quarter. Institutional investors own 30.75% of the company’s stock.

Innodata Trading Down 6.2 %

Shares of INOD opened at $36.75 on Monday. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 62.29 and a beta of 2.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. Innodata has a 1-year low of $5.46 and a 1-year high of $49.72. The company has a 50-day moving average of $20.30 and a 200 day moving average of $16.97.

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.