Innodata (NASDAQ:INOD) Trading Up 6.5% – Should You Buy?

Innodata Inc. (NASDAQ:INOD) rose 6.5% during trading on Friday . The company traded as high as $20.40 and last traded at $20.40. Approximately 127,222 shares changed hands during trading, a decline of 79% from the average daily volume of 610,866 shares. The stock had previously closed at $19.16.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on INOD shares. StockNews.com raised shares of Innodata to a “sell” rating in a report on Wednesday. Craig Hallum initiated coverage on shares of Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target for the company. Maxim Group started coverage on shares of Innodata in a report on Monday, July 15th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, BWS Financial lifted their target price on Innodata from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat.com, Innodata currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Innodata Trading Up 4.0 %

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 firm has a 50-day moving average price of $16.53 and a 200-day moving average price of $14.33. The company has a market capitalization of $572.76 million, a price-to-earnings ratio of 340.00 and a beta of 2.31.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in shares of Innodata in the 2nd quarter worth approximately $27,000. Elkhorn Partners Limited Partnership purchased a new stake in shares of Innodata in the 1st quarter valued at approximately $94,000. Private Advisor Group LLC boosted its position in Innodata by 17.4% during the third 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $102,000 after buying an additional 982 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Innodata during the 2nd quarter worth $285,000. 30.75% of the stock is owned by institutional investors and hedge funds.

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.