Short Interest in Innodata Inc. (NASDAQ:INOD) Increases By 6.3%

Innodata Inc. (NASDAQ:INODGet Free Report) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 2,890,000 shares, an increase of 6.3% from the May 31st total of 2,720,000 shares. Based on an average daily volume of 747,200 shares, the days-to-cover ratio is currently 3.9 days.

Analyst Ratings Changes

Separately, BWS Financial started coverage on Innodata in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $24.00 price target for the company.

Get Our Latest Research Report on INOD

Institutional Trading of Innodata

Several institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC bought a new stake in Innodata during the 1st quarter valued at about $8,142,000. Essex Investment Management Co. LLC acquired a new stake in Innodata in the fourth quarter valued at approximately $1,299,000. Trexquant Investment LP lifted its holdings 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 purchasing an additional 110,978 shares during the last quarter. GSA Capital Partners LLP raised its stake in Innodata by 128.5% in the first quarter. GSA Capital Partners LLP now owns 137,664 shares of the technology company’s stock valued at $909,000 after buying an additional 77,410 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new stake in Innodata in the fourth quarter worth about $520,000. 30.75% of the stock is currently owned by institutional investors.

Innodata Stock Down 1.1 %

NASDAQ INOD opened at $14.98 on Thursday. The stock has a 50 day moving average price of $12.25 and a 200-day moving average price of $9.44. Innodata has a one year low of $5.46 and a one year high of $16.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market capitalization of $430.72 million, a P/E ratio of 249.67 and a beta of 2.33.

Innodata (NASDAQ:INODGet Free Report) last announced its earnings results on Tuesday, May 7th. The technology company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $26.50 million during the quarter. Innodata had a return on equity of 9.08% and a net margin of 2.33%. As a group, equities analysts predict that Innodata will post 0.18 EPS for the current fiscal year.

Innodata Company Profile

(Get Free Report)

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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