Innodata (NASDAQ:INOD) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of Innodata (NASDAQ:INOD) to a sell rating in a research report sent to investors on Friday.

Other research analysts also recently issued research reports about the stock. BWS Financial upped their price objective on shares of Innodata from $24.00 to $30.00 and gave the company a buy rating in a research note on Friday, August 9th. Craig Hallum assumed coverage on shares of Innodata in a research note on Tuesday, September 17th. They set a buy rating and a $23.00 price objective for the company. Finally, Maxim Group assumed coverage on shares of Innodata in a research note on Monday, July 15th. They set a buy rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $27.67.

Innodata Price Performance

NASDAQ:INOD opened at $15.91 on Friday. The firm has a market cap of $457.46 million, a price-to-earnings ratio of 265.17 and a beta of 2.32. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average is $16.75 and its two-hundred day moving average is $12.88. Innodata has a 12-month low of $5.46 and a 12-month high of $21.58.

Hedge Funds Weigh In On Innodata

A number of institutional investors and hedge funds have recently bought and sold shares of INOD. Janus Henderson Group PLC purchased a new position in Innodata in the 1st quarter worth approximately $8,142,000. Deerfield Management Company L.P. Series C boosted its holdings 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 worth $1,658,000 after acquiring an additional 84,509 shares during the period. GSA Capital Partners LLP boosted its holdings in Innodata by 128.5% in the 1st quarter. GSA Capital Partners LLP now owns 137,664 shares of the technology company’s stock worth $909,000 after acquiring an additional 77,410 shares during the period. Rathbones Group PLC purchased a new position in Innodata in the 2nd quarter worth approximately $916,000. Finally, Marshall Wace LLP boosted its holdings in Innodata by 83.9% in the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after acquiring an additional 38,954 shares during the period. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.