Innodata (NASDAQ:INOD) Earns Outperform Rating from Analysts at Wedbush

Wedbush began coverage on shares of Innodata (NASDAQ:INOD) in a research report sent to investors on Thursday, MarketBeat reports. The brokerage issued an outperform rating and a $48.00 price objective on the technology company’s stock.

Several other analysts also recently issued reports on the company. BWS Financial boosted their price target on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Chardan Capital restated a “buy” rating and issued a $45.00 price target on shares of Innodata in a research note on Friday, December 13th. Finally, Craig Hallum began coverage on Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Innodata Stock Up 6.4 %

Shares of NASDAQ:INOD traded up $2.53 during trading on Thursday, hitting $42.29. 696,785 shares of the company were exchanged, compared to its average volume of 832,117. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 71.68 and a beta of 2.56. Innodata has a fifty-two week low of $5.46 and a fifty-two week high of $55.17. The firm has a fifty day moving average price of $32.57 and a two-hundred day moving average price of $21.91. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Insider Buying and Selling at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 38,333 shares of Innodata stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $47.17, for a total transaction of $1,808,167.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jack Abuhoff sold 225,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the completion of the transaction, the chief executive officer now owns 1,188,358 shares of the company’s stock, valued at $55,116,044.04. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 924,876 shares of company stock worth $42,040,262. Corporate insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. Series C boosted its position in 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 buying an additional 84,509 shares during the period. Rathbones Group PLC purchased a new stake in Innodata during the second quarter valued at about $916,000. Marshall Wace LLP boosted its position in Innodata by 83.9% during the second quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock valued at $1,266,000 after buying an additional 38,954 shares during the period. Barclays PLC boosted its holdings in shares of Innodata by 324.3% during the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after purchasing an additional 29,470 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Innodata during the second quarter worth about $381,000. 30.75% of the stock is currently 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.