StockNews.com Upgrades Innodata (NASDAQ:INOD) to Sell

Innodata (NASDAQ:INOD) was upgraded by equities researchers at StockNews.com to a “sell” rating in a report released on Wednesday.

Other equities analysts have also issued reports about the company. Craig Hallum assumed coverage on Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price objective for the company. BWS Financial lifted 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. Finally, Maxim Group assumed coverage on shares of Innodata in a report on Monday, July 15th. They issued a “buy” rating and a $30.00 price objective for the company. 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.67.

Innodata Stock Performance

INOD stock traded down $0.43 during mid-day trading on Wednesday, reaching $18.97. The company had a trading volume of 247,118 shares, compared to its average volume of 614,831. 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’s 50-day simple moving average is $16.49 and its two-hundred day simple moving average is $14.30. The stock has a market capitalization of $545.44 million, a P/E ratio of 316.17 and a beta of 2.31. Innodata has a one year low of $5.46 and a one year high of $21.58.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INOD. nVerses Capital LLC bought a new position in shares of Innodata during the 2nd quarter valued at about $27,000. Elkhorn Partners Limited Partnership acquired a new stake in Innodata during the first quarter valued at approximately $94,000. Private Advisor Group LLC boosted its holdings in Innodata by 17.4% during the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after buying an additional 2,207 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position 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 buying an additional 982 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Innodata in the second quarter valued at $285,000. 30.75% of the stock is owned by institutional investors and hedge funds.

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.