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

Innodata (NASDAQ:INOD) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

INOD has been the topic of a number of other research reports. Maxim Group initiated coverage on Innodata in a research report on Monday, July 15th. They set a “buy” rating and a $30.00 price target on the stock. BWS Financial increased their price target on Innodata from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday.

Innodata Trading Down 0.4 %

INOD stock traded down $0.08 during midday trading on Monday, reaching $18.47. The company’s stock had a trading volume of 898,626 shares, compared to its average volume of 651,960. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a fifty day simple moving average of $16.29 and a two-hundred day simple moving average of $11.22. Innodata has a 1 year low of $5.46 and a 1 year high of $21.58. The firm has a market capitalization of $531.07 million, a price-to-earnings ratio of 307.83 and a beta of 2.33.

Institutional Investors Weigh In On Innodata

Institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new stake in Innodata during the second quarter valued at about $27,000. Montag A & Associates Inc. bought a new stake in Innodata during the fourth quarter valued at about $33,000. Victory Capital Management Inc. bought a new stake in Innodata during the fourth quarter valued at about $53,000. Private Advisor Group LLC boosted its position in Innodata by 8.5% during the fourth quarter. Private Advisor Group LLC now owns 12,700 shares of the technology company’s stock valued at $103,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Elkhorn Partners Limited Partnership bought a new stake in Innodata during the first quarter valued at about $94,000. Institutional investors own 30.75% of the company’s stock.

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.