Innodata (NASDAQ:INOD) Coverage Initiated at Craig Hallum

Equities researchers at Craig Hallum initiated coverage on shares of Innodata (NASDAQ:INOD) in a research report issued on Tuesday, Benzinga reports. The firm set a “buy” rating and a $23.00 price target on the technology company’s stock. Craig Hallum’s target price suggests a potential upside of 53.54% from the company’s current price.

INOD has been the subject of a number of other research reports. Maxim Group began coverage on Innodata in a research report on Monday, July 15th. They set a “buy” rating and a $30.00 price objective for the company. StockNews.com cut Innodata from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. Finally, BWS Financial raised their price objective on shares of Innodata from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.67.

Innodata Stock Performance

INOD stock opened at $14.98 on Tuesday. Innodata has a 52 week low of $5.46 and a 52 week high of $21.58. 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 stock has a market cap of $430.72 million, a P/E ratio of 249.67 and a beta of 2.32. The firm has a 50 day simple moving average of $17.32 and a 200 day simple moving average of $12.53.

Hedge Funds Weigh In On Innodata

Institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Innodata by 6.8% in the 1st 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. Private Advisor Group LLC lifted its position in shares of Innodata by 8.5% during the 4th quarter. Private Advisor Group LLC now owns 12,700 shares of the technology company’s stock worth $103,000 after purchasing an additional 1,000 shares during the last quarter. Platform Technology Partners boosted its stake in Innodata by 5.2% during the 4th quarter. Platform Technology Partners now owns 28,661 shares of the technology company’s stock valued at $233,000 after purchasing an additional 1,408 shares during the period. nVerses Capital LLC acquired a new stake in Innodata in the 2nd quarter valued at approximately $27,000. Finally, BNP Paribas Financial Markets lifted its holdings 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. 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.