Innodata Inc. (NASDAQ:INOD) Short Interest Up 7.6% in October

Innodata Inc. (NASDAQ:INOD) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 4,100,000 shares, a growth of 7.6% from the September 30th total of 3,810,000 shares. Based on an average daily trading volume, of 528,300 shares, the short-interest ratio is currently 7.8 days.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on INOD shares. Craig Hallum started coverage on Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. Maxim Group started coverage on shares of Innodata in a research note on Monday, July 15th. They set a “buy” rating and a $30.00 target price for the company. 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 report on Friday, August 9th. Finally, StockNews.com raised shares of Innodata to a “sell” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.67.

Innodata Trading Down 6.2 %

Innodata stock traded down $1.32 during midday trading on Thursday, reaching $20.11. The stock had a trading volume of 807,923 shares, compared to its average volume of 612,450. The firm has a market cap of $582.97 million, a price-to-earnings ratio of 223.44 and a beta of 2.31. The company has a fifty day moving average of $16.76 and a 200 day moving average of $14.79. Innodata has a 52-week low of $5.46 and a 52-week high of $21.90. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

Hedge Funds Weigh In On Innodata

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in Innodata by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after acquiring an additional 982 shares in the last quarter. nVerses Capital LLC acquired a new stake in Innodata in the second quarter valued at approximately $27,000. Compass Ion Advisors LLC boosted its stake in Innodata by 5.6% in the third quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock valued at $632,000 after acquiring an additional 2,011 shares in the last quarter. Private Advisor Group LLC boosted its stake in Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,207 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Innodata by 11.2% in the first quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock valued at $147,000 after acquiring an additional 2,230 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.