Innodata (NASDAQ:INOD) Rating Increased to Sell at StockNews.com

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

Several other research firms have also recently weighed in on INOD. BWS Financial lifted their price objective on shares of Innodata from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Craig Hallum assumed coverage on Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target on the stock. Finally, Maxim Group initiated coverage on Innodata in a research note on Monday, July 15th. They issued a “buy” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Innodata Trading Down 2.2 %

Shares of Innodata stock traded down $0.43 during trading on Wednesday, hitting $18.97. The stock had a trading volume of 247,118 shares, compared to its average volume of 614,831. Innodata has a 1 year low of $5.46 and a 1 year high of $21.58. The stock has a 50 day simple moving average of $16.49 and a 200 day simple moving average of $14.30. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $545.44 million, a PE ratio of 316.17 and a beta of 2.31.

Institutional Investors Weigh In On Innodata

Institutional investors have recently modified their holdings of the stock. nVerses Capital LLC acquired a new stake in shares of Innodata during the 2nd quarter valued at about $27,000. Elkhorn Partners Limited Partnership bought a new stake in Innodata in the first quarter worth approximately $94,000. Price T Rowe Associates Inc. MD increased its stake in shares of Innodata by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after purchasing an additional 982 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Innodata by 11.2% during the 1st quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock valued at $147,000 after purchasing an additional 2,230 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after purchasing an additional 2,207 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.