Innodata Inc. (NASDAQ:INOD – Get Free Report)’s share price was up 5.1% during trading on Thursday . The company traded as high as $18.54 and last traded at $18.51. Approximately 329,526 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 616,816 shares. The stock had previously closed at $17.62.
Analysts Set New Price Targets
Several analysts have commented on INOD shares. Craig Hallum assumed coverage on shares of Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target for the company. Maxim Group initiated coverage on shares of Innodata in a research note on Monday, July 15th. They issued a “buy” rating and a $30.00 target price for the company. BWS Financial upped their price target on Innodata from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, StockNews.com raised Innodata to a “sell” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.67.
Read Our Latest Stock Report on Innodata
Innodata Stock Up 2.6 %
Institutional Investors Weigh In On Innodata
A number of large investors have recently made changes to their positions in INOD. Vanguard Group Inc. grew its stake in Innodata by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after purchasing an additional 28,173 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Innodata in the first quarter valued at approximately $8,142,000. GSA Capital Partners LLP increased its holdings in Innodata by 128.5% in the 1st quarter. GSA Capital Partners LLP now owns 137,664 shares of the technology company’s stock worth $909,000 after buying an additional 77,410 shares during the period. Deerfield Management Company L.P. Series C raised its position in Innodata by 309.5% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock worth $1,658,000 after buying an additional 84,509 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Innodata by 83.9% during the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock valued at $1,266,000 after acquiring an additional 38,954 shares during the period. 30.75% of the stock is owned by hedge funds and other 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.
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