Craig Hallum Begins Coverage on Innodata (NASDAQ:INOD)

Craig Hallum assumed coverage on shares of Innodata (NASDAQ:INOD) in a research report report published on Tuesday, MarketBeat reports. The firm issued a buy rating and a $23.00 price target on the technology company’s stock.

Other analysts also recently issued research reports about the stock. 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 target for the company. StockNews.com downgraded shares of Innodata from a hold rating to a sell rating in a research report on Monday, August 12th. Finally, BWS Financial raised their price target 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 data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $27.67.

Innodata Stock Up 4.1 %

Shares of NASDAQ:INOD opened at $14.31 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.45 and a current ratio of 1.45. Innodata has a 52-week low of $5.46 and a 52-week high of $21.58. The business’s 50 day simple moving average is $17.16 and its two-hundred day simple moving average is $12.60. The firm has a market cap of $411.46 million, a P/E ratio of 238.50 and a beta of 2.32.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in INOD. Deerfield Management Company L.P. Series C lifted its position in shares of Innodata by 309.5% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock worth $1,658,000 after buying an additional 84,509 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Innodata in the second quarter worth $381,000. Marshall Wace LLP grew its stake in 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. XTX Topco Ltd bought a new stake in shares of Innodata during the 2nd quarter worth $285,000. Finally, Rathbones Group PLC bought a new stake in shares of Innodata during the 2nd quarter worth $916,000. 30.75% of the stock is owned by institutional investors.

Innodata Company Profile

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.