Raymond James & Associates Cuts Position in Innodata Inc. (NASDAQ:INOD)

Raymond James & Associates cut its holdings in Innodata Inc. (NASDAQ:INOD) by 50.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,452 shares of the technology company’s stock after selling 34,715 shares during the period. Raymond James & Associates owned about 0.12% of Innodata worth $280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Innodata during the 3rd quarter valued at $25,000. Private Advisor Group LLC bought a new stake in Innodata in the third quarter worth about $100,000. Atria Wealth Solutions Inc. purchased a new position in Innodata in the third quarter valued at about $103,000. Trexquant Investment LP grew its position in shares of Innodata by 359.9% during the 3rd quarter. Trexquant Investment LP now owns 141,810 shares of the technology company’s stock valued at $1,210,000 after acquiring an additional 110,978 shares during the period. Finally, Legato Capital Management LLC purchased a new stake in shares of Innodata during the 4th quarter worth approximately $520,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded Innodata from a “d” rating to a “c-” rating in a research note on Friday, February 23rd.

Innodata Price Performance

Shares of NASDAQ:INOD opened at $6.03 on Tuesday. The firm has a market capitalization of $173.36 million, a PE ratio of -120.60 and a beta of 1.96. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $6.68 and a two-hundred day moving average price of $7.82. Innodata Inc. has a twelve month low of $5.46 and a twelve month high of $15.36.

Innodata (NASDAQ:INOD) last released its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.05 EPS for the quarter. The company had revenue of $26.11 million during the quarter. Innodata had a negative net margin of 1.05% and a negative return on equity of 4.14%.

Innodata 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.