Innodata (NASDAQ:INOD) Shares Up 6.5% – Time to Buy?

Innodata Inc. (NASDAQ:INOD)’s share price traded up 6.5% during trading on Friday . The stock traded as high as $20.40 and last traded at $20.40. 127,222 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 610,866 shares. The stock had previously closed at $19.16.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. BWS Financial increased their target price on Innodata from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Maxim Group assumed coverage on Innodata in a research report on Monday, July 15th. They issued a “buy” rating and a $30.00 target price for the company. Craig Hallum assumed coverage on Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price for the company. Finally, StockNews.com upgraded Innodata to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.67.

Innodata Stock Up 5.9 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $588.50 million, a P/E ratio of 225.58 and a beta of 2.31. The stock has a 50-day moving average price of $16.60 and a 200-day moving average price of $14.48.

Hedge Funds Weigh In On Innodata

Hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its holdings in Innodata by 128.5% in the first quarter. GSA Capital Partners LLP now owns 137,664 shares of the technology company’s stock worth $909,000 after purchasing an additional 77,410 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 purchasing an additional 28,173 shares in the last quarter. Rathbones Group PLC bought a new stake in Innodata in the second quarter worth approximately $916,000. Price T Rowe Associates Inc. MD increased its holdings 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. Finally, Deerfield Management Company L.P. Series C increased its holdings in Innodata by 309.5% in the second quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock worth $1,658,000 after purchasing an additional 84,509 shares in the last quarter. 30.75% of the stock is currently 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.