Innodata (NASDAQ:INOD) Hits New 1-Year High – What’s Next?

Innodata Inc. (NASDAQ:INOD)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $21.99 and last traded at $21.89, with a volume of 101475 shares changing hands. The stock had previously closed at $20.64.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on INOD. 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. BWS Financial increased their price objective 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 raised shares of Innodata to a “sell” rating in a report on Wednesday, October 23rd. Finally, Maxim Group began coverage on shares of Innodata in a report on Monday, July 15th. They set a “buy” rating and a $30.00 price target for the company. One analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.67.

Innodata Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $698.08 million, a price-to-earnings ratio of 267.59 and a beta of 2.30. The business has a fifty day moving average price of $17.06 and a 200 day moving average price of $15.34.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. nVerses Capital LLC acquired a new stake in shares of Innodata in the 2nd quarter valued at approximately $27,000. Elkhorn Partners Limited Partnership bought a new position in Innodata in the 1st quarter valued at approximately $94,000. Price T Rowe Associates Inc. MD boosted its position 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 buying an additional 982 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Innodata by 11.2% during the first quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock worth $147,000 after buying an additional 2,230 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of 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 during 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.