Stock Traders Purchase High Volume of Innodata Call Options (NASDAQ:INOD)

Innodata Inc. (NASDAQ:INOD) was the recipient of unusually large options trading activity on Monday. Traders purchased 5,746 call options on the stock. This represents an increase of approximately 515% compared to the typical volume of 934 call options.

Hedge Funds Weigh In On Innodata

A number of hedge funds and other institutional investors have recently made changes to their positions in INOD. Vanguard Group Inc. lifted its holdings in Innodata by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after purchasing an additional 28,173 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Innodata during the first quarter valued at about $8,142,000. Plustick Management LLC lifted its holdings in Innodata by 2.6% during the fourth quarter. Plustick Management LLC now owns 400,000 shares of the technology company’s stock valued at $3,256,000 after purchasing an additional 10,000 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Innodata by 128.5% during the first quarter. GSA Capital Partners LLP now owns 137,664 shares of the technology company’s stock valued at $909,000 after purchasing an additional 77,410 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its holdings in Innodata by 309.5% during 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 purchasing an additional 84,509 shares during the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. BWS Financial upped their target price on shares of Innodata from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. StockNews.com lowered shares of Innodata from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. 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. Finally, Maxim Group assumed coverage on shares of Innodata in a report on Monday, July 15th. They issued a “buy” rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Innodata Price Performance

Shares of NASDAQ:INOD opened at $15.48 on Wednesday. The company’s 50-day moving average is $16.89 and its 200 day moving average is $12.84. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market capitalization of $445.10 million, a P/E ratio of 258.00 and a beta of 2.32. Innodata has a fifty-two week low of $5.46 and a fifty-two week high of $21.58.

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.