Innodata Inc. (NASDAQ:INOD) Sees Large Growth in Short Interest

Innodata Inc. (NASDAQ:INOD) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 3,810,000 shares, an increase of 19.4% from the September 15th total of 3,190,000 shares. Based on an average trading volume of 574,800 shares, the short-interest ratio is currently 6.6 days.

Analysts Set New Price Targets

INOD has been the topic of a number of recent analyst reports. Craig Hallum began coverage on Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target on the stock. Maxim Group assumed coverage on shares of Innodata in a research report on Monday, July 15th. They set a “buy” rating and a $30.00 price target for the company. BWS Financial boosted their target price on shares of Innodata from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com raised shares of Innodata to a “sell” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.67.

Institutional Trading of Innodata

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC purchased a new stake in shares of Innodata in the 1st quarter worth about $8,142,000. Deerfield Management Company L.P. Series C lifted 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 valued at $1,658,000 after acquiring an additional 84,509 shares during the period. GSA Capital Partners LLP boosted its stake in Innodata by 128.5% during the first quarter. GSA Capital Partners LLP now owns 137,664 shares of the technology company’s stock worth $909,000 after acquiring an additional 77,410 shares in the last quarter. Rathbones Group PLC purchased a new stake in Innodata in the second quarter worth about $916,000. Finally, Marshall Wace LLP increased its stake in shares of Innodata by 83.9% during the second quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock valued at $1,266,000 after purchasing an additional 38,954 shares in the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Innodata Trading Up 3.2 %

NASDAQ:INOD traded up $0.53 during mid-day trading on Monday, reaching $17.09. 397,488 shares of the company’s stock traded hands, compared to its average volume of 620,804. Innodata has a 12-month low of $5.46 and a 12-month high of $21.58. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.45. The company has a 50 day moving average price of $16.24 and a 200-day moving average price of $13.70. The firm has a market capitalization of $491.39 million, a price-to-earnings ratio of 286.50 and a beta of 2.31.

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.