Innodata (NASDAQ:INOD) Share Price Passes Above 200-Day Moving Average of $11.84

Shares of Innodata Inc. (NASDAQ:INOD) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.84 and traded as high as $19.80. Innodata shares last traded at $19.50, with a volume of 386,028 shares.

Analyst Ratings Changes

A number of research firms recently commented on INOD. BWS Financial boosted their price objective on shares of Innodata from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Maxim Group began coverage on shares of Innodata in a research report on Monday, July 15th. They set a “buy” rating and a $30.00 target price for the company. Finally, StockNews.com cut shares of Innodata from a “hold” rating to a “sell” rating in a research report on Monday, August 12th.

Innodata Trading Up 3.2 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market cap of $560.68 million, a price-to-earnings ratio of 325.00 and a beta of 2.33. The business’s 50-day simple moving average is $17.00 and its 200-day simple moving average is $11.84.

Hedge Funds Weigh In On Innodata

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INOD. Deerfield Management Company L.P. Series C raised its position in shares of Innodata by 309.5% in the second quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock valued at $1,658,000 after buying an additional 84,509 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Innodata in the second quarter valued at approximately $381,000. Marshall Wace LLP raised its position in shares of Innodata by 83.9% in the second 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. XTX Topco Ltd acquired a new position in shares of Innodata in the second quarter valued at approximately $285,000. Finally, Rathbones Group PLC acquired a new position in shares of Innodata in the second quarter valued at approximately $916,000. Institutional investors and hedge funds 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.