Innodata’s (INOD) Buy Rating Reiterated at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Innodata (NASDAQ:INOD) in a research note published on Friday morning,Benzinga reports. Chardan Capital currently has a $45.00 target price on the technology company’s stock.

Several other research firms have also weighed in on INOD. Craig Hallum assumed coverage on Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, BWS Financial increased their target price on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Innodata Price Performance

Shares of INOD stock opened at $34.50 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata has a 12 month low of $5.46 and a 12 month high of $55.17. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 58.47 and a beta of 2.56. The stock has a 50-day moving average price of $30.83 and a 200 day moving average price of $21.29.

Insider Transactions at Innodata

In related news, Director Stewart R. Massey sold 50,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the transaction, the director now directly owns 25,262 shares in the company, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nauman Sabeeh Toor sold 200,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $45.37, for a total transaction of $9,074,000.00. Following the sale, the director now directly owns 319,401 shares in the company, valued at $14,491,223.37. This trade represents a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 924,876 shares of company stock worth $42,040,262 in the last three months. Insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

Several institutional investors and hedge funds have recently bought and sold shares of INOD. Barclays PLC boosted its stake in shares of Innodata by 324.3% during the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after acquiring an additional 29,470 shares during the period. Geode Capital Management LLC lifted its stake in shares of Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after buying an additional 13,609 shares during the last quarter. State Street Corp raised its holdings in Innodata by 1.8% in the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company’s stock valued at $9,011,000 after acquiring an additional 9,408 shares during the period. Point72 Asset Management L.P. acquired a new stake in Innodata during the third quarter worth approximately $206,000. Finally, Centiva Capital LP bought a new stake in shares of Innodata during the third quarter worth approximately $318,000. 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.