Innodata (NASDAQ:INOD) Stock Price Up 5.1% – Still a Buy?

Shares of Innodata Inc. (NASDAQ:INOD) traded up 5.1% on Thursday . The stock traded as high as $18.54 and last traded at $18.51. 329,526 shares changed hands during trading, a decline of 47% from the average session volume of 616,816 shares. The stock had previously closed at $17.62.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Craig Hallum assumed coverage on Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price objective on the stock. BWS Financial increased their price target on shares of Innodata from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 9th. StockNews.com upgraded shares of Innodata to a “sell” rating in a research report on Friday, September 27th. Finally, Maxim Group initiated coverage on shares of Innodata in a research report on Monday, July 15th. They issued a “buy” rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.67.

Innodata Trading Up 2.6 %

The firm has a market capitalization of $540.56 million, a price-to-earnings ratio of 313.33 and a beta of 2.31. 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 50 day moving average price of $16.36 and a two-hundred day moving average price of $13.99.

Hedge Funds Weigh In On Innodata

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INOD. Compass Ion Advisors LLC raised its position in shares of Innodata by 5.6% during the 3rd quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock worth $632,000 after purchasing an additional 2,011 shares during the last quarter. Deerfield Management Company L.P. Series C raised its holdings in shares of Innodata by 309.5% during the second 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 acquiring an additional 84,509 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Innodata in the second quarter valued at approximately $381,000. Marshall Wace LLP boosted its stake in shares of Innodata by 83.9% in the second quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after acquiring an additional 38,954 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Innodata during the second quarter worth approximately $285,000. 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.