Entropy Technologies LP Makes New Investment in Innodata Inc. (NASDAQ:INOD)

Key Points

• Entropy Technologies LP acquired a new stake in Innodata Inc., purchasing 17,965 shares valued at approximately $645,000, bringing its ownership to around 0.06% as of the most recent quarter.
• Numerous institutional investors, including Wells Fargo & Company and Franklin Resources Inc., have significantly increased their stakes in Innodata during the previous quarter.
• Innodata reported better-than-expected earnings of $0.20 per share, exceeding analyst estimates and reflecting a 79.7% year-over-year revenue growth.

Entropy Technologies LP acquired a new position in Innodata Inc. (NASDAQ:INOD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,965 shares of the technology company's stock, valued at approximately $645,000. Entropy Technologies LP owned approximately 0.06% of Innodata as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV bought a new stake in Innodata during the first quarter worth $29,000. KBC Group NV bought a new position in shares of Innodata in the first quarter valued at about $52,000. Motco bought a new position in shares of Innodata in the first quarter valued at about $72,000. Headlands Technologies LLC bought a new position in shares of Innodata in the first quarter valued at about $90,000. Finally, USA Financial Formulas raised its position 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 valued at $91,000 after purchasing an additional 1,630 shares during the period. 30.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INOD. Wedbush dropped their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. BWS Financial reaffirmed a "buy" rating and set a $74.00 price target on shares of Innodata in a research report on Monday, June 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $55.00.

Innodata Stock Performance

NASDAQ:INOD traded down $0.43 during mid-day trading on Friday, reaching $40.19. 3,182,031 shares of the company's stock were exchanged, compared to its average volume of 2,847,652. Innodata Inc. has a one year low of $13.02 and a one year high of $71.00. The firm has a market capitalization of $1.28 billion, a PE ratio of 32.41 and a beta of 2.75. The business's fifty day simple moving average is $46.94 and its two-hundred day simple moving average is $43.42. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The technology company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.09. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The business had revenue of $58.39 million for the quarter, compared to analyst estimates of $56.35 million. Innodata's quarterly revenue was up 79.7% on a year-over-year basis. Analysts anticipate 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.