Innodata (NASDAQ:INOD) Stock Passes Above 200-Day Moving Average of $9.29

Innodata Inc. (NASDAQ:INOD)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.29 and traded as high as $15.02. Innodata shares last traded at $14.83, with a volume of 1,020,716 shares traded.

Analysts Set New Price Targets

Separately, BWS Financial began coverage on Innodata in a research note on Wednesday, May 22nd. They set a “buy” rating and a $24.00 target price for the company.

Innodata Stock Performance

The company has a market capitalization of $426.36 million, a price-to-earnings ratio of 247.21 and a beta of 2.22. The stock has a 50 day moving average of $11.69 and a 200 day moving average of $9.29. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.25.

Innodata (NASDAQ:INOD) last issued its earnings results on Tuesday, May 7th. The technology company reported $0.03 earnings per share for the quarter. The business had revenue of $26.50 million during the quarter. Innodata had a return on equity of 9.08% and a net margin of 2.33%. As a group, analysts predict that Innodata Inc. will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Innodata

Large investors have recently bought and sold shares of the stock. Elkhorn Partners Limited Partnership purchased a new position in shares of Innodata during the first quarter worth about $94,000. Janus Henderson Group PLC purchased a new position in shares of Innodata during the first quarter worth approximately $8,142,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Innodata by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after acquiring an additional 982 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Innodata by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after purchasing an additional 28,173 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position 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 purchasing an additional 77,410 shares during the period. 30.75% of the stock is currently owned by 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.