Innodata (NASDAQ:INOD) Stock Rating Upgraded by StockNews.com

Innodata (NASDAQ:INOD) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other brokerages have also weighed in on INOD. BWS Financial upped their target price on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Craig Hallum initiated coverage on Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and an average target price of $32.67.

Innodata Stock Performance

Shares of INOD stock opened at $36.75 on Friday. The company has a market capitalization of $1.07 billion, a P/E ratio of 62.29 and a beta of 2.30. Innodata has a 52 week low of $5.46 and a 52 week high of $49.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The company’s 50 day moving average price is $20.30 and its two-hundred day moving average price is $16.97.

Insider Buying and Selling at Innodata

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

Hedge Funds Weigh In On Innodata

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC bought a new position in shares of Innodata in the 1st quarter valued at about $8,142,000. Deerfield Management Company L.P. Series C lifted its stake in Innodata by 309.5% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock valued at $1,658,000 after purchasing an additional 84,509 shares during the last quarter. Rathbones Group PLC acquired a new stake in Innodata in the 2nd quarter valued at about $916,000. Marshall Wace LLP grew its holdings in Innodata by 83.9% during the second quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after purchasing an additional 38,954 shares during the period. Finally, Barclays PLC increased its position in Innodata by 324.3% during the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after buying an additional 29,470 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

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.