Chardan Capital Reiterates “Buy” Rating for Innodata (NASDAQ:INOD)

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

Several other research analysts also recently issued reports on the company. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. BWS Financial upped their price target on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Craig Hallum assumed coverage on shares of Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.75.

Innodata Trading Down 1.5 %

Shares of INOD opened at $34.50 on Friday. Innodata has a 52-week low of $5.46 and a 52-week high of $55.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The business’s fifty day moving average is $30.83 and its 200-day moving average is $21.29. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 58.47 and a beta of 2.56.

Insider Activity at Innodata

In related news, COO Ashok Mishra sold 92,726 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total transaction of $4,002,054.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stewart R. Massey sold 50,000 shares of Innodata 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 completion of the sale, the director now owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 924,876 shares of company stock worth $42,040,262 over the last ninety days. Insiders own 15.23% of the company’s stock.

Hedge Funds Weigh In On Innodata

A number of institutional investors and hedge funds have recently modified their holdings of INOD. nVerses Capital LLC acquired a new position in shares of Innodata during the 2nd quarter valued at $27,000. Point72 Asset Management L.P. bought a new stake in Innodata in the third quarter valued at $206,000. BNP Paribas Financial Markets raised its holdings in shares of Innodata by 38.5% during the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after purchasing an additional 3,739 shares during the period. Private Advisor Group LLC boosted its position in shares of Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after purchasing an additional 2,207 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Innodata by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after purchasing an additional 982 shares in the last quarter. 30.75% of the stock is currently 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.