Craig Hallum Begins Coverage on Innodata (NASDAQ:INOD)

Craig Hallum began coverage on shares of Innodata (NASDAQ:INOD) in a research note published on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $23.00 target price on the technology company’s stock.

Several other equities research analysts have also weighed in on the stock. Maxim Group initiated coverage on shares of Innodata in a research note on Monday, July 15th. They set a buy rating and a $30.00 price objective on the stock. BWS Financial upped their target price on Innodata from $24.00 to $30.00 and gave the company a buy rating in a report on Friday, August 9th. Finally, StockNews.com downgraded Innodata from a hold rating to a sell rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Innodata currently has a consensus rating of Moderate Buy and an average price target of $27.67.

Innodata Stock Down 2.5 %

INOD stock opened at $13.95 on Tuesday. The firm has a market cap of $401.10 million, a price-to-earnings ratio of 232.50 and a beta of 2.32. Innodata has a 1-year low of $5.46 and a 1-year high of $21.58. The firm has a fifty day moving average price of $17.11 and a two-hundred day moving average price of $12.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. bought a new stake in shares of Innodata during the fourth quarter valued at approximately $53,000. Private Advisor Group LLC increased its position in Innodata by 8.5% in the 4th quarter. Private Advisor Group LLC now owns 12,700 shares of the technology company’s stock valued at $103,000 after acquiring an additional 1,000 shares during the period. Platform Technology Partners raised its stake in Innodata by 5.2% during the 4th quarter. Platform Technology Partners now owns 28,661 shares of the technology company’s stock valued at $233,000 after acquiring an additional 1,408 shares in the last quarter. Plustick Management LLC raised its stake in Innodata by 2.6% during the 4th quarter. Plustick Management LLC now owns 400,000 shares of the technology company’s stock valued at $3,256,000 after acquiring an additional 10,000 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Innodata by 11.2% during the 1st quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock worth $147,000 after acquiring an additional 2,230 shares during the period. 30.75% of the stock is owned by institutional investors and hedge funds.

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.