Hussman Strategic Advisors Inc. Buys Shares of 21,000 Innodata Inc. $INOD

Key Points

• Hussman Strategic Advisors Inc. has acquired a new stake in Innodata Inc., purchasing 21,000 shares valued at approximately $1,076,000 during the second quarter.
• Multiple research analysts have upgraded their ratings for Innodata, with BWS Financial increasing the target price from $74.00 to $110.00, indicating a strong confidence in the stock's performance.
• Innodata Inc. currently has a market capitalization of $2.13 billion and a 52-week price range of $20.26 to $93.85, highlighting significant volatility in its stock price.

Hussman Strategic Advisors Inc. bought a new stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 21,000 shares of the technology company's stock, valued at approximately $1,076,000. Hussman Strategic Advisors Inc. owned about 0.07% of Innodata as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of INOD. Farther Finance Advisors LLC bought a new position in Innodata in the 2nd quarter valued at $36,000. KBC Group NV purchased a new stake in shares of Innodata during the first quarter valued at $52,000. Toth Financial Advisory Corp grew its holdings in shares of Innodata by 40.2% in the second quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company's stock worth $59,000 after purchasing an additional 330 shares during the last quarter. Motco purchased a new position in Innodata in the 1st quarter worth about $72,000. Finally, Pinnacle Investment Management Ltd bought a new stake in Innodata during the 2nd quarter valued at about $77,000. 30.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

INOD has been the topic of a number of research analyst reports. BWS Financial upped their target price on shares of Innodata from $74.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, October 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Innodata in a research note on Tuesday, October 14th. Zacks Research raised Innodata from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 13th. Finally, Wedbush increased their price target on Innodata from $75.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $80.00.

Innodata Stock Performance

Shares of NASDAQ:INOD opened at $66.86 on Wednesday. The firm has a 50 day moving average of $68.77 and a 200 day moving average of $52.06. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 53.92 and a beta of 2.96. Innodata Inc. has a 52 week low of $20.26 and a 52 week high of $93.85.

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.

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