Innodata Inc. (NASDAQ:INOD) Given Average Rating of “Buy” by Brokerages

Shares of Innodata Inc. (NASDAQ:INOD) have been given a consensus rating of “Buy” by the five brokerages that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $38.20.

Several analysts have issued reports on the company. Craig Hallum started coverage on Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price on the stock. Wedbush assumed coverage on shares of Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price for the company. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Chardan Capital restated a “buy” rating and issued a $45.00 price target on shares of Innodata in a report on Friday, December 13th. Finally, BWS Financial boosted their price objective on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th.

Insider Activity

In other news, COO Ashok Mishra sold 69,218 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $47.13, for a total value of $3,262,244.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stewart R. Massey sold 50,000 shares of Innodata stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value 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 trade represents a 66.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,035,083 shares of company stock worth $46,889,370 over the last 90 days. 15.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Innodata

Several hedge funds and other institutional investors have recently bought and sold shares of INOD. Geode Capital Management LLC boosted its holdings in shares of Innodata by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after acquiring an additional 13,609 shares during the last quarter. State Street Corp grew its position in Innodata by 1.8% during the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company’s stock worth $9,011,000 after purchasing an additional 9,408 shares during the period. Deerfield Management Company L.P. Series C grew its position in Innodata by 309.5% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock worth $1,658,000 after purchasing an additional 84,509 shares during the period. Marshall Wace LLP raised its stake in shares of Innodata by 83.9% during the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock valued at $1,266,000 after buying an additional 38,954 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Innodata by 19.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 78,057 shares of the technology company’s stock valued at $1,158,000 after buying an additional 12,515 shares during the period. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Price Performance

NASDAQ INOD opened at $43.76 on Tuesday. The company has a market cap of $1.27 billion, a PE ratio of 74.17 and a beta of 2.59. The firm’s 50 day moving average price is $37.89 and its 200-day moving average price is $24.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. Innodata has a 52-week low of $5.46 and a 52-week high of $55.17.

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.