Innodata Inc. (NASDAQ:INOD) Short Interest Update

Innodata Inc. (NASDAQ:INODGet Free Report) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 3,850,000 shares, a growth of 14.2% from the December 15th total of 3,370,000 shares. Based on an average daily volume of 1,590,000 shares, the short-interest ratio is currently 2.4 days.

Insider Activity

In other Innodata news, Director Nauman Sabeeh Toor sold 110,207 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $44.00, for a total value of $4,849,108.00. Following the completion of the transaction, the director now owns 209,194 shares of the company’s stock, valued at $9,204,536. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Ashok Mishra sold 58,500 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total transaction of $2,630,745.00. The disclosure for this sale can be found here. Insiders sold 1,035,083 shares of company stock worth $46,889,370 in the last three months. Corporate insiders own 15.23% of the company’s stock.

Institutional Investors Weigh In On Innodata

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new position in shares of Innodata in the fourth quarter valued at about $36,000. Harbour Capital Advisors LLC bought a new stake in shares of Innodata in the fourth quarter worth about $292,000. Hennion & Walsh Asset Management Inc. bought a new position in Innodata during the 4th quarter valued at approximately $371,000. Point72 Asset Management L.P. bought a new position in Innodata during the 3rd quarter valued at approximately $206,000. Finally, BNP Paribas Financial Markets lifted its holdings in Innodata by 38.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after buying an additional 3,739 shares during the period. 30.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on INOD shares. BWS Financial upped their price objective on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Chardan Capital reiterated a “buy” rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. Wedbush started coverage on shares of Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target on the stock. Finally, StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.20.

Read Our Latest Research Report on Innodata

Innodata Trading Down 0.8 %

INOD stock traded down $0.31 during midday trading on Friday, hitting $36.78. The company had a trading volume of 794,625 shares, compared to its average volume of 1,429,272. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata has a 52 week low of $5.46 and a 52 week high of $55.17. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 62.34 and a beta of 2.59. The stock’s 50 day moving average price is $40.53 and its 200 day moving average price is $25.68.

About Innodata

(Get Free Report)

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.

Read More

Receive News & Ratings for Innodata Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innodata and related companies with MarketBeat.com's FREE daily email newsletter.