Analysts Set Innodata Inc. (NASDAQ:INOD) Price Target at $38.20

Shares of Innodata Inc. (NASDAQ:INOD) have been given an average recommendation of “Buy” by the five ratings firms that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have covered the stock in the last year is $38.20.

A number of research firms have commented on INOD. BWS Financial lifted their target price on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Chardan Capital restated a “buy” rating and set a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Wedbush started coverage on Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price on the stock. Finally, Craig Hallum assumed coverage on Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target on the stock.

Innodata Stock Down 2.2 %

Shares of NASDAQ INOD opened at $35.96 on Tuesday. 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 firm has a fifty day simple moving average of $39.64 and a two-hundred day simple moving average of $24.95. The firm has a market capitalization of $1.04 billion, a PE ratio of 60.95 and a beta of 2.59. Innodata has a 12 month low of $5.46 and a 12 month high of $55.17.

Insiders Place Their Bets

In related news, Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value of $2,027,500.00. Following the sale, the director now directly owns 25,262 shares in the company, valued at $1,024,374.10. This trade represents a 66.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $44.00, for a total value of $4,849,108.00. Following the sale, the director now directly owns 209,194 shares in the company, valued at approximately $9,204,536. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,035,083 shares of company stock valued at $46,889,370 over the last quarter. Company insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Innodata by 19.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 78,057 shares of the technology company’s stock worth $1,158,000 after purchasing an additional 12,515 shares in the last quarter. Rhumbline Advisers raised its position in Innodata by 19.2% during the second quarter. Rhumbline Advisers now owns 37,725 shares of the technology company’s stock valued at $559,000 after buying an additional 6,066 shares during the period. Rathbones Group PLC purchased a new position in Innodata during the 2nd quarter valued at about $916,000. XTX Topco Ltd purchased a new position in Innodata during the 2nd quarter valued at about $285,000. Finally, Marshall Wace LLP increased its holdings in shares of Innodata by 83.9% in the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock valued at $1,266,000 after purchasing an additional 38,954 shares during the period. 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.