Aspire Capital Advisors LLC Purchases New Position in Innodata Inc. $INOD

Key Points

• Aspire Capital Advisors LLC has acquired a new position in Innodata Inc., purchasing 6,825 shares valued at approximately $350,000 in the second quarter.
• Innodata recently reported a quarterly earnings per share (EPS) of $0.20, surpassing analysts' expectations by $0.09, with revenue increasing by 79.7% year-over-year.
• Analysts have rated Innodata stock with a "Buy" rating, giving it an average target price of $63.00, reflecting positive market sentiment.

Aspire Capital Advisors LLC purchased a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,825 shares of the technology company's stock, valued at approximately $350,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Innodata by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company's stock valued at $608,000 after acquiring an additional 533 shares during the last quarter. Millennium Management LLC lifted its position in Innodata by 739.5% in the fourth quarter. Millennium Management LLC now owns 109,135 shares of the technology company's stock valued at $4,313,000 after acquiring an additional 96,135 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Innodata in the fourth quarter valued at $301,000. Two Sigma Investments LP purchased a new stake in Innodata in the fourth quarter valued at $5,282,000. Finally, Wellington Management Group LLP purchased a new stake in Innodata in the fourth quarter valued at $11,283,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Trading Down 6.0%

NASDAQ INOD opened at $69.43 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87. The firm has a market cap of $2.21 billion, a PE ratio of 55.99 and a beta of 2.58. Innodata Inc. has a one year low of $14.79 and a one year high of $77.47. The firm's fifty day moving average is $48.54 and its two-hundred day moving average is $43.73.

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

Analysts Set New Price Targets

Separately, BWS Financial reissued a "buy" rating and issued a $74.00 price target on shares of Innodata in a research report on Monday, June 16th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $63.00.

About Innodata

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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