Innodata (NASDAQ:INOD) Coverage Initiated by Analysts at BWS Financial

Analysts at BWS Financial assumed coverage on shares of Innodata (NASDAQ:INOD) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $24.00 price target on the technology company’s stock. BWS Financial’s target price indicates a potential upside of 86.19% from the company’s current price.

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

Innodata Stock Down 0.2 %

INOD stock opened at $12.89 on Wednesday. Innodata has a twelve month low of $5.46 and a twelve month high of $15.36. The company has a market cap of $370.59 million, a PE ratio of 214.87 and a beta of 2.02. The business’s 50-day simple moving average is $7.64 and its 200 day simple moving average is $8.15. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.25.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, February 22nd. The technology company reported $0.05 earnings per share for the quarter. Innodata had a return on equity of 9.08% and a net margin of 2.33%. The business had revenue of $26.11 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of INOD. Raymond James & Associates bought a new position in shares of Innodata in the third quarter valued at approximately $590,000. Allspring Global Investments Holdings LLC bought a new position in Innodata in the 3rd quarter worth approximately $25,000. Private Advisor Group LLC bought a new position in Innodata in the 3rd quarter worth approximately $100,000. Atria Wealth Solutions Inc. acquired a new stake in Innodata during the 3rd quarter worth $103,000. Finally, Trexquant Investment LP grew its holdings in Innodata by 359.9% during the 3rd quarter. Trexquant Investment LP now owns 141,810 shares of the technology company’s stock worth $1,210,000 after acquiring an additional 110,978 shares during the period. Institutional investors own 30.75% of the company’s stock.

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.