Innodata (NASDAQ:INOD) Lowered to Sell Rating by Wall Street Zen

Innodata (NASDAQ:INOD) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also issued research reports about the stock. Zacks Research lowered shares of Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. BWS Financial reiterated a “top pick” rating and set a $110.00 price objective on shares of Innodata in a research report on Friday, January 30th. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Innodata in a report on Friday, January 30th. Finally, Weiss Ratings cut Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Innodata currently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Innodata Stock Up 1.7%

Innodata stock opened at $45.15 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.69 and a current ratio of 2.68. Innodata has a one year low of $26.41 and a one year high of $93.85. The company has a 50-day simple moving average of $52.57 and a 200-day simple moving average of $58.54. The firm has a market capitalization of $1.47 billion, a P/E ratio of 49.62 and a beta of 2.46.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data on Thursday, February 26th. The technology company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. The firm had revenue of $72.38 million for the quarter, compared to the consensus estimate of $69.47 million. Innodata had a net margin of 12.79% and a return on equity of 35.12%. Innodata’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the firm posted $0.34 EPS. As a group, equities analysts expect that Innodata will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Innodata

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Innodata by 446.4% in the first quarter. AQR Capital Management LLC now owns 90,968 shares of the technology company’s stock valued at $3,266,000 after purchasing an additional 74,320 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Innodata by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company’s stock valued at $577,000 after buying an additional 711 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Innodata by 30.7% during the first quarter. Millennium Management LLC now owns 142,608 shares of the technology company’s stock valued at $5,120,000 after buying an additional 33,473 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Innodata by 87.1% during the second quarter. Envestnet Asset Management Inc. now owns 32,460 shares of the technology company’s stock valued at $1,663,000 after buying an additional 15,115 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Innodata during the second quarter valued at $243,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

About Innodata

Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata’s platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.

The firm’s offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.