Innodata (NASDAQ:INOD) Given Buy Rating at Chardan Capital

Chardan Capital restated their buy rating on shares of Innodata (NASDAQ:INOD) in a report issued on Friday,Benzinga reports. The firm currently has a $45.00 price target on the technology company’s stock.

A number of other research analysts have also commented on the company. Craig Hallum started coverage on Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price objective on the stock. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, BWS Financial boosted their price objective on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.75.

Innodata Trading Down 1.5 %

Shares of NASDAQ:INOD opened at $34.50 on Friday. Innodata has a 1 year low of $5.46 and a 1 year high of $55.17. The firm has a fifty day moving average price of $30.45 and a 200 day moving average price of $21.08. 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 stock has a market capitalization of $1.00 billion, a PE ratio of 58.48 and a beta of 2.56.

Insider Buying and Selling

In other news, COO Ashok Mishra sold 58,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total value of $2,630,745.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director now owns 25,262 shares of the company’s stock, valued at $1,024,374.10. This trade represents a 66.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 924,876 shares of company stock valued at $42,040,262. 15.23% of the stock is owned by company insiders.

Institutional Trading of Innodata

A number of large investors have recently bought and sold shares of the stock. Barclays PLC lifted 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 valued at $647,000 after acquiring an additional 29,470 shares during the period. Geode Capital Management LLC increased its position in shares of Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after purchasing an additional 13,609 shares in the last quarter. State Street Corp lifted its holdings in Innodata by 1.8% during the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company’s stock valued at $9,011,000 after purchasing an additional 9,408 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Innodata in the third quarter valued at about $206,000. Finally, Centiva Capital LP acquired a new position in Innodata in the third quarter valued at about $318,000. 30.75% of the stock is currently owned by 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.