Innodata (NASDAQ:INOD) Shares Cross Above 200-Day Moving Average of $9.29

Innodata Inc. (NASDAQ:INOD)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.29 and traded as high as $15.02. Innodata shares last traded at $14.83, with a volume of 1,020,716 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, BWS Financial assumed coverage on shares of Innodata in a research report on Wednesday, May 22nd. They set a “buy” rating and a $24.00 price objective for the company.

Innodata Trading Up 2.8 %

The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average is $11.69 and its two-hundred day moving average is $9.29. The company has a market capitalization of $426.36 million, a PE ratio of 247.21 and a beta of 2.22.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.03 EPS for the quarter. Innodata had a return on equity of 9.08% and a net margin of 2.33%. The firm had revenue of $26.50 million during the quarter. As a group, sell-side analysts predict that Innodata Inc. will post 0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Trexquant Investment LP grew its stake in Innodata by 359.9% in the 3rd quarter. Trexquant Investment LP now owns 141,810 shares of the technology company’s stock valued at $1,210,000 after acquiring an additional 110,978 shares during the period. Legato Capital Management LLC acquired a new position in shares of Innodata during the 4th quarter worth about $520,000. White Pine Capital LLC raised its position in shares of Innodata by 13.0% during the 4th quarter. White Pine Capital LLC now owns 130,734 shares of the technology company’s stock worth $1,064,000 after purchasing an additional 15,055 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Innodata in the 4th quarter valued at about $53,000. Finally, Private Advisor Group LLC boosted its holdings in Innodata by 8.5% in the 4th quarter. Private Advisor Group LLC now owns 12,700 shares of the technology company’s stock worth $103,000 after buying an additional 1,000 shares during 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.