Innodata (NASDAQ:INOD) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of Innodata (NASDAQ:INOD) to a sell rating in a research note released on Wednesday morning.

INOD has been the subject of several other reports. Craig Hallum initiated coverage on Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price for the company. BWS Financial raised their target price on Innodata from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Maxim Group initiated coverage on Innodata in a research note on Monday, July 15th. They issued a “buy” rating and a $30.00 target price for the company. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.67.

Innodata Stock Performance

Shares of INOD opened at $18.97 on Wednesday. The stock has a market capitalization of $545.44 million, a P/E ratio of 316.17 and a beta of 2.31. The firm’s fifty day simple moving average is $16.49 and its two-hundred day simple moving average is $14.30. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.24. Innodata has a 12 month low of $5.46 and a 12 month high of $21.58.

Hedge Funds Weigh In On Innodata

Several hedge funds have recently modified their holdings of INOD. Janus Henderson Group PLC bought a new position in shares of Innodata during the 1st quarter worth approximately $8,142,000. Deerfield Management Company L.P. Series C lifted its position in shares of 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 worth $1,658,000 after buying an additional 84,509 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Innodata by 128.5% during the 1st quarter. GSA Capital Partners LLP now owns 137,664 shares of the technology company’s stock worth $909,000 after buying an additional 77,410 shares in the last quarter. Rathbones Group PLC bought a new position in shares of Innodata during the 2nd quarter worth approximately $916,000. Finally, Marshall Wace LLP lifted its position in shares of Innodata by 83.9% during the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after buying an additional 38,954 shares in the last quarter. Institutional investors own 30.75% of the company’s stock.

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.