StockNews.com Upgrades Innodata (NASDAQ:INOD) to “Hold”

Innodata (NASDAQ:INOD) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Innodata Trading Down 6.0 %

NASDAQ:INOD opened at $7.92 on Friday. The firm has a market cap of $224.13 million, a P/E ratio of -26.40 and a beta of 2.01. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.31. The stock’s 50 day simple moving average is $11.91 and its 200-day simple moving average is $9.94. Innodata has a 12-month low of $2.78 and a 12-month high of $15.36.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, August 10th. The technology company reported ($0.03) earnings per share (EPS) for the quarter. Innodata had a negative net margin of 10.77% and a negative return on equity of 43.47%. The company had revenue of $19.66 million during the quarter.

Insiders Place Their Bets

In other news, Director Nauman Sabeeh Toor sold 23,383 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $14.77, for a total value of $345,366.91. Following the sale, the director now directly owns 700,000 shares in the company, valued at $10,339,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Nauman Sabeeh Toor sold 23,383 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $14.77, for a total transaction of $345,366.91. Following the transaction, the director now directly owns 700,000 shares in the company, valued at $10,339,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Marissa B. Espineli sold 6,600 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $15.08, for a total value of $99,528.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,037 shares of company stock worth $1,636,174. 18.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Innodata

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada acquired a new stake in Innodata during the second quarter worth about $25,000. Geneos Wealth Management Inc. acquired a new stake in Innodata during the second quarter worth about $40,000. Strs Ohio acquired a new stake in Innodata during the second quarter worth about $66,000. California State Teachers Retirement System acquired a new stake in Innodata during the second quarter worth about $95,000. Finally, Osaic Holdings Inc. acquired a new stake in Innodata during the second quarter worth about $102,000. 40.53% of the stock is currently owned by hedge funds and other institutional investors.

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 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.