Innodata (NASDAQ:INOD) Now Covered by Analysts at Craig Hallum

Craig Hallum initiated coverage on shares of Innodata (NASDAQ:INOD) in a research note released on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $23.00 price target on the technology company’s stock.

A number of other research firms have also recently commented on INOD. Maxim Group began coverage on Innodata in a research note on Monday, July 15th. They issued a buy rating and a $30.00 target price on the stock. BWS Financial raised 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, StockNews.com downgraded shares of Innodata from a hold rating to a sell rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $27.67.

Innodata Price Performance

Shares of NASDAQ INOD opened at $14.77 on Tuesday. The company has a 50 day simple moving average of $17.27 and a two-hundred day simple moving average of $12.58. Innodata has a fifty-two week low of $5.46 and a fifty-two week high of $21.58. The company has a market capitalization of $424.68 million, a price-to-earnings ratio of 246.17 and a beta of 2.32. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.45 and a current ratio of 1.45.

Institutional Trading of Innodata

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new stake in Innodata in the fourth quarter worth approximately $53,000. Private Advisor Group LLC grew its holdings in shares of Innodata by 8.5% in the fourth quarter. Private Advisor Group LLC now owns 12,700 shares of the technology company’s stock worth $103,000 after acquiring an additional 1,000 shares during the period. Platform Technology Partners increased its position in Innodata by 5.2% during the fourth quarter. Platform Technology Partners now owns 28,661 shares of the technology company’s stock valued at $233,000 after acquiring an additional 1,408 shares during the last quarter. Plustick Management LLC increased its position in Innodata by 2.6% during the fourth quarter. Plustick Management LLC now owns 400,000 shares of the technology company’s stock valued at $3,256,000 after acquiring an additional 10,000 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Innodata by 11.2% in the first quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock valued at $147,000 after acquiring an additional 2,230 shares during the period. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.