GAMMA Investing LLC Boosts Holdings in Innodata Inc. (NASDAQ:INOD)

GAMMA Investing LLC boosted its position in shares of Innodata Inc. (NASDAQ:INOD) by 7,273.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,171 shares of the technology company’s stock after acquiring an additional 18,911 shares during the period. GAMMA Investing LLC owned 0.06% of Innodata worth $6,880,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP purchased a new stake in Innodata during the fourth quarter valued at approximately $29,000. Meeder Asset Management Inc. acquired a new position in Innodata during the 4th quarter valued at approximately $36,000. AlphaQuest LLC increased its stake in Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after purchasing an additional 456 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Innodata during the 4th quarter valued at approximately $150,000. Finally, Fullcircle Wealth LLC acquired a new position in Innodata during the 4th quarter valued at approximately $194,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INOD. Wedbush cut their price target on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Maxim Group upped their price target on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, BWS Financial upped their price target on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Innodata Stock Up 12.2%

NASDAQ:INOD opened at $51.23 on Monday. The firm has a market capitalization of $1.63 billion, a P/E ratio of 60.27 and a beta of 2.65. Innodata Inc. has a 1-year low of $12.67 and a 1-year high of $71.00. The company’s fifty day moving average price is $37.11 and its 200-day moving average price is $40.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Innodata (NASDAQ:INOD) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The firm had revenue of $58.34 million for the quarter, compared to analyst estimates of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The business’s revenue was up 120.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

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.