Informed Momentum Co LLC raised its stake in Innodata Inc. (NASDAQ:INOD - Free Report) by 233.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,905 shares of the technology company's stock after acquiring an additional 52,420 shares during the quarter. Informed Momentum Co LLC owned approximately 0.24% of Innodata worth $2,689,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in INOD. Vanguard Group Inc. increased its stake in shares of Innodata by 7.4% in the first quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company's stock valued at $63,197,000 after buying an additional 120,630 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of Innodata by 1,718.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock valued at $37,331,000 after buying an additional 892,663 shares during the period. Yong Rong HK Asset Management Ltd acquired a new position in shares of Innodata in the first quarter valued at approximately $28,548,000. Driehaus Capital Management LLC acquired a new position in shares of Innodata in the fourth quarter valued at approximately $16,713,000. Finally, Palisades Investment Partners LLC increased its stake in shares of Innodata by 2.9% in the first quarter. Palisades Investment Partners LLC now owns 379,409 shares of the technology company's stock valued at $13,621,000 after buying an additional 10,758 shares during the period. Institutional investors own 30.75% of the company's stock.
Wall Street Analysts Forecast Growth
INOD has been the subject of several recent research reports. Wedbush lowered 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. BWS Financial reissued a "buy" rating and set a $74.00 target price on shares of Innodata in a research report on Monday, June 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.
Read Our Latest Report on Innodata
Innodata Stock Performance
NASDAQ:INOD opened at $42.95 on Wednesday. The company has a market capitalization of $1.37 billion, a PE ratio of 34.64 and a beta of 2.75. The company has a 50 day simple moving average of $47.30 and a two-hundred day simple moving average of $43.26. 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 Inc. has a fifty-two week low of $13.02 and a fifty-two week high of $71.00.
Innodata (NASDAQ:INOD - Get Free Report) last released its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. The business had revenue of $58.39 million during the quarter, compared to the consensus estimate of $56.35 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The business's quarterly revenue was up 79.7% compared to the same quarter last year. Research analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current year.
About Innodata
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding INOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innodata Inc. (NASDAQ:INOD - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Innodata, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Innodata wasn't on the list.
While Innodata currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access