Raymond James & Associates Trims Stock Holdings in Innodata Inc. (NASDAQ:INOD)

Raymond James & Associates reduced its stake in shares of Innodata Inc. (NASDAQ:INOD) by 50.2% during the fourth quarter, according to the company in its most recent 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’ holdings in Innodata were worth $280,000 at the end of the most recent reporting period.

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

Innodata Stock Up 1.9 %

Shares of INOD stock opened at $6.03 on Tuesday. The stock has a market cap of $173.36 million, a P/E ratio of -120.60 and a beta of 1.96. The company’s fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $7.82. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.26. Innodata Inc. has a 52 week low of $5.46 and a 52 week high of $15.36.

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

Analysts Set New Price Targets

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

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.