Innodata Inc. (NASDAQ:INOD) Short Interest Up 21.7% in December

Innodata Inc. (NASDAQ:INOD) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 3,370,000 shares, a growth of 21.7% from the November 30th total of 2,770,000 shares. Based on an average trading volume of 1,440,000 shares, the days-to-cover ratio is currently 2.3 days.

Innodata Stock Performance

NASDAQ:INOD traded down $2.57 during mid-day trading on Tuesday, hitting $39.52. 992,748 shares of the stock were exchanged, compared to its average volume of 851,681. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s 50-day simple moving average is $36.19 and its 200 day simple moving average is $23.42. Innodata has a fifty-two week low of $5.46 and a fifty-two week high of $55.17. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 66.98 and a beta of 2.56.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on INOD shares. BWS Financial lifted their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Chardan Capital reissued a “buy” rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Craig Hallum initiated coverage on Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price on the stock. Finally, Wedbush started coverage on Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Insider Transactions at Innodata

In other news, Director Louise C. Forlenza sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $45.10, for a total transaction of $180,400.00. Following the sale, the director now owns 8,278 shares in the company, valued at $373,337.80. This represents a 32.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the completion of the transaction, the director now directly owns 25,262 shares of the company’s stock, valued at $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,035,083 shares of company stock valued at $46,889,370 in the last ninety days. 15.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Innodata

A number of institutional investors have recently modified their holdings of the business. nVerses Capital LLC bought a new stake in shares of Innodata in the second quarter valued at approximately $27,000. Point72 Asset Management L.P. acquired a new position in Innodata in the 3rd quarter valued at $206,000. BNP Paribas Financial Markets increased its position in shares of Innodata by 38.5% in the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after purchasing an additional 3,739 shares during the period. JPMorgan Chase & Co. lifted its position in Innodata by 17.1% during the third quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company’s stock worth $242,000 after purchasing an additional 2,099 shares during the period. Finally, Private Advisor Group LLC grew 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. 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.