Innodata (NASDAQ:INOD) Reaches New 52-Week High Following Analyst Upgrade

Innodata Inc. (NASDAQ:INOD) shares hit a new 52-week high during trading on Monday after StockNews.com upgraded the stock to a sell rating. The stock traded as high as $44.49 and last traded at $43.68, with a volume of 345409 shares trading hands. The stock had previously closed at $42.78.

Several other equities research analysts also recently commented on INOD. BWS Financial lifted their price objective on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Craig Hallum initiated coverage on shares of Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target for the company. Finally, Maxim Group assumed coverage on shares of Innodata in a research report on Monday, July 15th. They set a “buy” rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Innodata has an average rating of “Moderate Buy” and an average target price of $32.67.

Institutional Trading of Innodata

Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC purchased a new position in shares of Innodata during the 1st quarter worth $8,142,000. Deerfield Management Company L.P. Series C lifted its position in Innodata by 309.5% during the second 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 in the last quarter. Rathbones Group PLC purchased a new position in Innodata during the second quarter valued at $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 valued at $1,266,000 after purchasing an additional 38,954 shares during the period. Finally, Vanguard Group Inc. increased its position in Innodata by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after buying an additional 28,173 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.

Innodata Price Performance

The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.33 billion, a P/E ratio of 77.95 and a beta of 2.30. The firm has a 50 day moving average price of $18.28 and a 200 day moving average price of $16.08.

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.