Innodata Inc. (NASDAQ:INOD) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 7,273.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 19,171 shares of the technology company's stock after purchasing an additional 18,911 shares during the period. GAMMA Investing LLC owned approximately 0.06% of Innodata worth $6,880,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in INOD. Allworth Financial LP purchased a new position in shares of Innodata during the fourth quarter worth $29,000. Meeder Asset Management Inc. acquired a new position in Innodata during the 4th quarter worth about $36,000. AlphaQuest LLC boosted its holdings in Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after acquiring an additional 456 shares during the period. SBI Securities Co. Ltd. acquired a new position in Innodata in the 4th quarter valued at about $150,000. Finally, Fullcircle Wealth LLC purchased a new stake in Innodata during the fourth quarter worth about $194,000. Institutional investors and hedge funds own 30.75% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on INOD. Maxim Group raised their price objective on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Wedbush decreased their target price on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Finally, BWS Financial upped their price target on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.

Innodata Stock Down 0.3%

INOD stock traded down $0.14 during midday trading on Thursday, reaching $42.42. 1,396,641 shares of the company were exchanged, compared to its average volume of 1,449,456. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 49.91 and a beta of 2.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. Innodata Inc. has a 1-year low of $12.67 and a 1-year high of $71.00. The stock's 50-day simple moving average is $37.78 and its 200 day simple moving average is $40.92.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The firm had revenue of $58.34 million for the quarter, compared to analyst estimates of $57.64 million. The firm's quarterly revenue was up 120.1% compared to the same quarter last year. On average, equities analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.

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.