Compass Ion Advisors LLC Sells 12,000 Shares of Innodata Inc. (NASDAQ:INOD)

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

Other institutional investors have also recently modified their holdings of the company. Allworth Financial LP purchased a new stake in shares of Innodata in the fourth quarter worth $29,000. Meeder Asset Management Inc. purchased a new stake in shares of Innodata in the fourth quarter worth $36,000. AlphaQuest LLC grew its stake in shares of Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after acquiring an additional 456 shares during the last quarter. USA Financial Formulas grew its stake in shares of 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 acquiring an additional 1,630 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Innodata in the fourth quarter worth $150,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Stock Performance

Shares of NASDAQ:INOD traded up $2.90 during midday trading on Friday, reaching $49.23. 3,038,012 shares of the company's stock traded hands, compared to its average volume of 1,504,091. Innodata Inc. has a one year low of $12.67 and a one year high of $71.00. The stock has a 50 day moving average of $39.12 and a 200 day moving average of $41.11. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.36 and a current ratio of 2.36. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 47.34 and a beta of 2.65.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. BWS Financial reaffirmed a "buy" rating and set a $74.00 price target on shares of Innodata in a report on Monday, June 16th. Maxim Group upped their price target on Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Wedbush lowered their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $55.00.

Innodata 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.