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

Innodata Inc. (NASDAQ:INOD) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 3,850,000 shares, a growth of 14.2% from the December 31st total of 3,370,000 shares. Based on an average daily trading volume, of 1,590,000 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

A number of research firms have commented on INOD. Chardan Capital restated a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. Wedbush began coverage on Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target on the stock. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, BWS Financial boosted their target price on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Insider Transactions at Innodata

In other news, Director Louise C. Forlenza sold 4,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.10, for a total value of $180,400.00. Following the completion of the sale, the director now directly owns 8,278 shares of the company’s stock, valued at approximately $373,337.80. The trade was a 32.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Marissa B. Espineli sold 38,333 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $47.17, for a total value of $1,808,167.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,035,083 shares of company stock worth $46,889,370. 15.23% of the stock is currently owned by insiders.

Institutional Trading of Innodata

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in shares of Innodata in the 4th quarter valued at $29,000. USA Financial Formulas purchased a new stake in shares of Innodata during the 4th quarter worth about $36,000. Principal Financial Group Inc. increased its position in Innodata by 9.9% during the 4th quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company’s stock worth $806,000 after purchasing an additional 1,828 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Innodata by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock valued at $1,291,000 after buying an additional 1,843 shares during the period. Finally, Compass Ion Advisors LLC lifted its position in Innodata by 5.6% during the third quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock valued at $632,000 after buying an additional 2,011 shares in the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Innodata Stock Performance

NASDAQ INOD opened at $37.08 on Monday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 62.85 and a beta of 2.59. The business’s 50 day moving average is $39.34 and its two-hundred day moving average is $27.06. Innodata has a 12-month low of $5.46 and a 12-month high of $55.17. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.28. Innodata had a return on equity of 44.38% and a net margin of 14.57%. The firm had revenue of $52.22 million for the quarter, compared to analyst estimates of $35.47 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. Research analysts expect that Innodata will post 0.62 EPS for the current year.

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.