Innodata (NASDAQ:INOD) Shares Up 14.8% – Time to Buy?

Innodata Inc. (NASDAQ:INOD) traded up 14.8% on Monday . The stock traded as high as $44.09 and last traded at $44.97. 1,155,659 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 1,465,903 shares. The stock had previously closed at $39.19.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on INOD shares. Maxim Group lifted their price objective on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. BWS Financial restated a “buy” rating and set a $74.00 price target on shares of Innodata in a report on Monday. Finally, Wedbush cut their target price on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Innodata has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Innodata Stock Up 13.6%

The company has a market cap of $1.41 billion, a PE ratio of 52.42 and a beta of 2.65. 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 firm has a fifty day simple moving average of $38.13 and a 200 day simple moving average of $40.93.

Innodata (NASDAQ:INOD) last issued its earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business had revenue of $58.34 million for the quarter, compared to analysts’ expectations of $57.64 million. Innodata’s revenue was up 120.1% compared to the same quarter last year. Equities research analysts predict that Innodata Inc. will post 0.81 EPS for the current year.

Institutional Trading of Innodata

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in Innodata by 3.5% during the first quarter. Rhumbline Advisers now owns 38,100 shares of the technology company’s stock worth $1,368,000 after acquiring an additional 1,281 shares during the last quarter. Strs Ohio purchased a new stake in Innodata in the 1st quarter valued at about $248,000. Axiom Investors LLC DE bought a new position in shares of Innodata during the 1st quarter valued at approximately $1,532,000. Scientech Research LLC boosted its holdings in Innodata by 215.6% in the 1st quarter. Scientech Research LLC now owns 33,307 shares of the technology company’s stock worth $1,196,000 after buying an additional 22,755 shares during the period. Finally, Millennium Management LLC lifted its stake in Innodata by 30.7% in the 1st quarter. Millennium Management LLC now owns 142,608 shares of the technology company’s stock worth $5,120,000 after purchasing an additional 33,473 shares in the last quarter. Institutional investors and hedge funds 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.