Innodata Inc. (NASDAQ:INOD) Receives Average Rating of “Buy” from Analysts

Innodata Inc. (NASDAQ:INOD) has received an average recommendation of “Buy” from the four brokerages that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $35.75.

Several analysts have commented on the stock. BWS Financial lifted their target price 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. Craig Hallum assumed coverage on shares of Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price for the company. Chardan Capital reaffirmed a “buy” rating and issued a $45.00 target price on shares of Innodata in a research note on Friday. Finally, StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th.

Innodata Price Performance

Innodata stock traded up $1.33 during mid-day trading on Friday, reaching $36.36. The company had a trading volume of 217,572 shares, compared to its average volume of 808,384. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s 50-day simple moving average is $30.45 and its 200-day simple moving average is $21.08. Innodata has a 1 year low of $5.46 and a 1 year high of $55.17. The company has a market capitalization of $1.05 billion, a P/E ratio of 61.19 and a beta of 2.56.

Insider Buying and Selling at Innodata

In related news, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now owns 25,262 shares in the company, valued at $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Louise C. Forlenza sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $45.10, for a total transaction of $180,400.00. Following the completion of the sale, the director now owns 8,278 shares in the company, valued at $373,337.80. The trade was a 32.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 924,876 shares of company stock valued at $42,040,262 in the last ninety days. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in Innodata during the second quarter worth approximately $27,000. Price T Rowe Associates Inc. MD boosted its holdings in Innodata by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after buying an additional 982 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Innodata during the third quarter worth approximately $206,000. BNP Paribas Financial Markets boosted its holdings 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 buying an additional 3,739 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Innodata by 17.4% during the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after buying an additional 2,207 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.

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.