Innodata Inc. (NASDAQ:INOD) Short Interest Down 35.2% in November

Innodata Inc. (NASDAQ:INOD) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 2,470,000 shares, a drop of 35.2% from the October 31st total of 3,810,000 shares. Based on an average daily volume of 992,800 shares, the days-to-cover ratio is presently 2.5 days.

Insider Activity

In other Innodata news, CEO Jack Abuhoff sold 187,099 shares of Innodata stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.07, for a total value of $8,619,650.93. Following the transaction, the chief executive officer now directly owns 1,188,358 shares of the company’s stock, valued at $54,747,653.06. The trade was a 13.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Louise C. Forlenza sold 4,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $45.10, for a total value of $180,400.00. Following the completion of the sale, the director now directly owns 8,278 shares of the company’s stock, valued at $373,337.80. This represents a 32.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 666,376 shares of company stock valued at $30,335,517 over the last 90 days. 15.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new stake in shares of Innodata in the 2nd quarter valued at approximately $27,000. Point72 Asset Management L.P. bought a new stake in Innodata in the third quarter valued at $206,000. BNP Paribas Financial Markets raised its stake in Innodata by 38.5% during the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after acquiring an additional 3,739 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Innodata by 17.4% during the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,207 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Innodata by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after purchasing an additional 982 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Trading Down 5.1 %

Shares of INOD stock opened at $38.33 on Friday. The firm has a fifty day moving average of $25.32 and a 200-day moving average of $19.06. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 64.97 and a beta of 2.30. Innodata has a 52-week low of $5.46 and a 52-week high of $49.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Analyst Ratings Changes

INOD has been the topic of several research analyst reports. BWS Financial raised their price target on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report 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 target price on the stock. Finally, StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.67.

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.