Innodata (NASDAQ:INOD) Rating Increased to Hold at StockNews.com

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

A number of other brokerages have also commented on INOD. BWS Financial raised their price target on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Craig Hallum initiated coverage on Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price objective for the company. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Innodata presently has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Innodata Trading Down 6.2 %

Shares of INOD opened at $36.75 on Friday. The firm’s 50 day simple moving average is $19.84 and its 200 day simple moving average is $16.68. The company has a market capitalization of $1.07 billion, a P/E ratio of 62.29 and a beta of 2.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. Innodata has a 1-year low of $5.46 and a 1-year high of $49.72.

Insider Activity at Innodata

In other news, Director Stewart R. Massey sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now directly owns 25,262 shares of the company’s stock, valued at $1,024,374.10. This represents a 66.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Innodata

Several hedge funds have recently modified their holdings of INOD. nVerses Capital LLC bought a new position in shares of Innodata during the 2nd quarter valued at approximately $27,000. Elkhorn Partners Limited Partnership bought a new position in shares of Innodata during the 1st quarter valued at approximately $94,000. Price T Rowe Associates Inc. MD increased its position in shares of Innodata by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after purchasing an additional 982 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Innodata by 11.2% during the 1st quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock valued at $147,000 after purchasing an additional 2,230 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Innodata during the 3rd quarter valued at approximately $206,000. 30.75% of the stock is owned by hedge funds and other 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.