Compass Ion Advisors LLC Reduces Stake in Innodata Inc. (NASDAQ:INOD)

Compass Ion Advisors LLC decreased its position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 48.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,674 shares of the technology company's stock after selling 12,000 shares during the quarter. Compass Ion Advisors LLC's holdings in Innodata were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP bought a new stake in Innodata during the fourth quarter worth $29,000. Meeder Asset Management Inc. bought a new position in Innodata in the 4th quarter valued at $36,000. AlphaQuest LLC grew its stake in Innodata by 79.4% in 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 during the period. USA Financial Formulas grew its stake in Innodata by 180.5% in the 1st quarter. USA Financial Formulas now owns 2,533 shares of the technology company's stock valued at $91,000 after purchasing an additional 1,630 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Innodata in the 4th quarter valued at $150,000. Institutional investors own 30.75% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on INOD shares. BWS Financial restated a "buy" rating and issued a $74.00 price objective on shares of Innodata in a research note on Monday, June 16th. Wedbush reduced their price objective on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Innodata Stock Performance

Shares of INOD stock traded down $1.97 on Monday, hitting $47.26. 3,680,963 shares of the stock were exchanged, compared to its average volume of 1,517,043. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.50 billion, a PE ratio of 45.44 and a beta of 2.65. Innodata Inc. has a one year low of $13.02 and a one year high of $71.00. The firm's 50 day moving average is $39.36 and its two-hundred day moving average is $41.07.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $58.34 million during the quarter, compared to the consensus estimate of $57.64 million. Innodata had a return on equity of 55.38% and a net margin of 17.53%. The business's revenue was up 120.1% compared to the same quarter last year. Sell-side analysts expect that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

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.