Innodata (NASDAQ:INOD) Stock Price Down 6.7% – Should You Sell?

Innodata Inc. (NASDAQ:INOD)’s stock price fell 6.7% during trading on Wednesday . The stock traded as low as $41.48 and last traded at $42.90. 467,115 shares traded hands during trading, a decline of 32% from the average session volume of 683,676 shares. The stock had previously closed at $45.99.

Analyst Ratings Changes

INOD has been the subject of several research analyst reports. StockNews.com upgraded shares of Innodata to a “sell” rating in a research note on Friday, November 8th. BWS Financial boosted their price target on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Craig Hallum assumed coverage on shares of Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target on the stock. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, Innodata currently has a consensus rating of “Moderate Buy” and an average target price of $32.67.

Innodata Stock Down 13.4 %

The stock’s fifty day moving average is $18.28 and its two-hundred day moving average is $16.08. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.15 billion, a PE ratio of 68.98 and a beta of 2.30.

Institutional Investors Weigh In On Innodata

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Innodata by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after purchasing an additional 28,173 shares during the last quarter. Rathbones Group PLC purchased a new stake in shares of Innodata during the second quarter valued at approximately $916,000. Price T Rowe Associates Inc. MD lifted 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 worth $102,000 after acquiring an additional 982 shares during the period. Deerfield Management Company L.P. Series C grew its stake in shares of Innodata by 309.5% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock worth $1,658,000 after buying an additional 84,509 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Innodata by 11.2% in the 1st 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 in the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.