Innodata Inc. (NASDAQ:INOD) Short Interest Update

Innodata Inc. (NASDAQ:INOD) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 3,810,000 shares, a growth of 19.4% from the September 15th total of 3,190,000 shares. Based on an average daily trading volume, of 574,800 shares, the short-interest ratio is presently 6.6 days.

Analysts Set New Price Targets

INOD has been the subject of a number of recent research reports. Maxim Group assumed coverage on shares of Innodata in a research note on Monday, July 15th. They issued a “buy” rating and a $30.00 price target for the company. BWS Financial boosted their target price on shares of Innodata from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. StockNews.com upgraded Innodata to a “sell” rating in a research note on Friday, September 27th. Finally, Craig Hallum started coverage on Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price objective for the company. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Innodata currently has a consensus rating of “Moderate Buy” and an average price target of $27.67.

Institutional Trading of Innodata

A number of large investors have recently made changes to their positions in INOD. nVerses Capital LLC acquired a new stake in shares of Innodata in the second quarter valued at approximately $27,000. Elkhorn Partners Limited Partnership purchased a new position in Innodata during the 1st quarter worth $94,000. Price T Rowe Associates Inc. MD increased its stake in Innodata by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after purchasing an additional 982 shares during the period. XTX Topco Ltd purchased a new stake in shares of Innodata in the second quarter valued at about $285,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Innodata by 11.2% in the first quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock valued at $147,000 after buying an additional 2,230 shares during the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

Innodata Stock Up 2.6 %

Shares of NASDAQ INOD traded up $0.44 during mid-day trading on Wednesday, reaching $17.36. The company had a trading volume of 78,836 shares, compared to its average volume of 617,072. The firm has a 50 day simple moving average of $16.27 and a two-hundred day simple moving average of $13.85. Innodata has a 52-week low of $5.46 and a 52-week high of $21.58. 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 stock has a market cap of $499.15 million, a P/E ratio of 282.00 and a beta of 2.31.

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.