Innodata (NASDAQ:INOD) Upgraded at StockNews.com

StockNews.com upgraded shares of Innodata (NASDAQ:INOD) from a sell rating to a hold rating in a research note published on Saturday morning.

Several other equities analysts have also recently issued reports on INOD. BWS Financial boosted their price target on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Craig Hallum assumed coverage on shares of Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Innodata currently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Innodata Price Performance

INOD stock opened at $41.44 on Friday. The firm’s 50-day moving average price is $20.30 and its two-hundred day moving average price is $17.05. Innodata has a 12-month low of $5.46 and a 12-month high of $49.72. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 70.65 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Insider Transactions at Innodata

In other Innodata news, Director Stewart R. Massey sold 50,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. This represents 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 the SEC website. Insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

A number of hedge funds and other institutional investors have recently modified their holdings of INOD. nVerses Capital LLC purchased a new position in Innodata during the second quarter valued at $27,000. Point72 Asset Management L.P. purchased a new position in shares of Innodata in the 3rd quarter worth $206,000. BNP Paribas Financial Markets increased its holdings in shares of Innodata by 38.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after buying an additional 3,739 shares during the last quarter. Elkhorn Partners Limited Partnership purchased a new stake in shares of Innodata during the 1st quarter valued at about $94,000. Finally, Private Advisor Group LLC lifted its holdings in shares of Innodata by 17.4% in the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,207 shares during the last quarter. 30.75% of the stock is 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.