Innodata (NASDAQ:INOD) Raised to “Sell” at StockNews.com

Innodata (NASDAQ:INOD) was upgraded by investment analysts at StockNews.com to a “sell” rating in a research note issued on Friday.

A number of other research firms have also recently weighed in on INOD. BWS Financial increased their price target on Innodata from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Maxim Group initiated coverage on shares of Innodata in a research report on Monday, July 15th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Craig Hallum began coverage on shares of Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price for the company. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat, Innodata has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Innodata Price Performance

NASDAQ:INOD opened at $15.96 on Friday. Innodata has a 12-month low of $5.46 and a 12-month high of $21.58. The firm has a market capitalization of $458.90 million, a price-to-earnings ratio of 266.00 and a beta of 2.32. The stock’s 50 day moving average price is $16.81 and its two-hundred day moving average price is $12.86. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INOD. Deerfield Management Company L.P. Series C lifted its holdings in shares of Innodata by 309.5% during the second quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock worth $1,658,000 after buying an additional 84,509 shares in the last quarter. Squarepoint Ops LLC bought a new position in Innodata during the second quarter worth about $381,000. Marshall Wace LLP raised its stake 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 purchasing an additional 38,954 shares in the last quarter. XTX Topco Ltd bought a new stake in Innodata in the 2nd quarter valued at about $285,000. Finally, Rathbones Group PLC acquired a new position in shares of Innodata during the 2nd quarter worth approximately $916,000. 30.75% of the stock is owned by institutional investors and hedge funds.

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.