Innodata (NASDAQ:INOD) Trading 6.2% Higher – Time to Buy?

Innodata Inc. (NASDAQ:INOD) rose 6.2% on Tuesday . The company traded as high as $44.14 and last traded at $44.02. Approximately 691,140 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 708,985 shares. The stock had previously closed at $41.44.

Analyst Ratings Changes

INOD has been the topic of a number of research analyst reports. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday. Craig Hallum began coverage on Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price objective on the stock. Finally, BWS Financial boosted their target price on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Innodata presently has an average rating of “Moderate Buy” and an average price target of $32.67.

Innodata Trading Up 8.0 %

The company has a market capitalization of $1.30 billion, a PE ratio of 75.93 and a beta of 2.30. The stock’s fifty day moving average price is $20.84 and its two-hundred day moving average price is $17.29. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15.

Insider Buying and Selling at Innodata

In related news, Director Stewart R. Massey sold 50,000 shares of the firm’s 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 completion of the sale, the director now owns 25,262 shares of the company’s stock, valued at $1,024,374.10. This trade represents a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.23% of the company’s stock.

Institutional Investors Weigh In On Innodata

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in Innodata in the 3rd quarter valued at $330,000. Vanguard Group Inc. lifted its position in shares of Innodata by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after purchasing an additional 28,173 shares during the period. Rathbones Group PLC bought a new position in shares of Innodata during the 2nd quarter worth approximately $916,000. Price T Rowe Associates Inc. MD increased its stake in 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 valued at $102,000 after purchasing an additional 982 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C increased its stake in Innodata by 309.5% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock valued at $1,658,000 after purchasing an additional 84,509 shares in the last quarter. Hedge funds and other institutional investors 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.