Alta Wealth Advisors LLC Invests $604,000 in Innodata Inc. $INOD

Key Points

• Alta Wealth Advisors LLC invested approximately $604,000 in Innodata Inc. by acquiring 11,801 shares, marking their first investment in the company as per the latest SEC filing.
• Innodata's recent earnings report showed an EPS of $0.20, exceeding estimates and reflecting a 79.7% increase in quarterly revenue year-over-year, totaling $58.39 million.
• Analysts have a consensus rating of "Moderate Buy" for Innodata's stock, with a price target of $63.00, after four analysts rated the stock as a Buy and one as a Hold.

Alta Wealth Advisors LLC acquired a new position in Innodata Inc. (NASDAQ:INOD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,801 shares of the technology company's stock, valued at approximately $604,000.

Several other institutional investors and hedge funds have also bought and sold shares of INOD. GAMMA Investing LLC lifted its holdings in Innodata by 7,273.5% in the first quarter. GAMMA Investing LLC now owns 19,171 shares of the technology company's stock worth $6,880,000 after buying an additional 18,911 shares during the period. Rhumbline Advisers lifted its holdings in Innodata by 3.5% in the first quarter. Rhumbline Advisers now owns 38,100 shares of the technology company's stock worth $1,368,000 after buying an additional 1,281 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Innodata by 40.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 13,151 shares of the technology company's stock worth $472,000 after buying an additional 3,759 shares during the period. USA Financial Formulas lifted its holdings in Innodata by 180.5% in the first quarter. USA Financial Formulas now owns 2,533 shares of the technology company's stock worth $91,000 after buying an additional 1,630 shares during the period. Finally, Precision Wealth Strategies LLC lifted its holdings in Innodata by 7.2% in the first quarter. Precision Wealth Strategies LLC now owns 12,646 shares of the technology company's stock worth $454,000 after buying an additional 854 shares during the period. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Innodata Trading Down 3.7%

Shares of INOD stock opened at $84.14 on Friday. Innodata Inc. has a 12-month low of $14.79 and a 12-month high of $89.95. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09. The firm's 50 day moving average is $52.73 and its 200 day moving average is $45.38. The stock has a market capitalization of $2.68 billion, a P/E ratio of 67.85 and a beta of 2.96.

Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The company had revenue of $58.39 million for the quarter, compared to analysts' expectations of $56.35 million. The company's quarterly revenue was up 79.7% compared to the same quarter last year. Research analysts expect that Innodata Inc. will post 0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on INOD shares. BWS Financial restated a "buy" rating and issued a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. Weiss Ratings restated a "hold (c+)" rating on shares of Innodata in a report on Saturday, September 27th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

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.

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