Innodata (NASDAQ:INOD) Upgraded to “Sell” at StockNews.com

Innodata (NASDAQ:INOD) was upgraded by stock analysts at StockNews.com to a “sell” rating in a research note issued on Friday.

Other equities research analysts have also issued research reports about the stock. Craig Hallum started coverage on shares of Innodata in a research note on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price for the company. BWS Financial lifted their price target on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday. Finally, Maxim Group began coverage on Innodata in a report on Monday, July 15th. They issued a “buy” rating and a $30.00 price objective on the stock. One equities research 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.com, Innodata presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

Innodata Stock Up 75.8 %

NASDAQ:INOD opened at $42.78 on Friday. The business’s fifty day moving average price is $17.71 and its 200 day moving average price is $15.73. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 475.39 and a beta of 2.30. Innodata has a 1-year low of $5.46 and a 1-year high of $43.65.

Hedge Funds Weigh In On Innodata

Institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC bought a new stake in shares of Innodata in the 2nd quarter worth approximately $27,000. Elkhorn Partners Limited Partnership bought a new position in Innodata in the first quarter worth $94,000. Private Advisor Group LLC boosted its stake 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. Price T Rowe Associates Inc. MD increased its holdings in Innodata by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after buying an additional 982 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in shares of Innodata in the 3rd quarter valued at $311,000. 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.