Short Interest in Innodata Inc. (NASDAQ:INOD) Rises By 14.2%

Innodata Inc. (NASDAQ:INOD) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 3,850,000 shares, an increase of 14.2% from the December 15th total of 3,370,000 shares. Based on an average trading volume of 1,590,000 shares, the short-interest ratio is currently 2.4 days.

Insider Transactions at Innodata

In other news, Director Nauman Sabeeh Toor sold 110,207 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the completion of the transaction, the director now directly owns 209,194 shares of the company’s stock, valued at $9,204,536. This represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction that occurred 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 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 a total of 1,035,083 shares of company stock valued at $46,889,370 over the last three months. Corporate insiders own 15.23% of the company’s stock.

Hedge Funds Weigh In On Innodata

A number of institutional investors have recently made changes to their positions in INOD. Bank of New York Mellon Corp increased its holdings in shares of Innodata by 19.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 78,057 shares of the technology company’s stock worth $1,158,000 after buying an additional 12,515 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Innodata by 19.2% in the 2nd quarter. Rhumbline Advisers now owns 37,725 shares of the technology company’s stock worth $559,000 after buying an additional 6,066 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Innodata in the 2nd quarter worth $285,000. Marshall Wace LLP increased its holdings in shares of Innodata by 83.9% in the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after buying an additional 38,954 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Innodata in the 2nd quarter worth $381,000. Institutional investors own 30.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on INOD shares. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. BWS Financial upped their price target on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Chardan Capital restated a “buy” rating and set a $45.00 price target on shares of Innodata in a research note on Friday, December 13th. Finally, Wedbush assumed coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.20.

Innodata Price Performance

NASDAQ INOD traded down $0.31 on Friday, hitting $36.78. The stock had a trading volume of 794,625 shares, compared to its average volume of 1,429,272. Innodata has a 52-week low of $5.46 and a 52-week high of $55.17. 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 company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 62.34 and a beta of 2.59. The firm has a 50-day moving average of $40.53 and a 200-day moving average of $25.68.

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.