Informed Momentum Co LLC Has $2.69 Million Stake in Innodata Inc. (NASDAQ:INOD)

Key Points

• Informed Momentum Co LLC increased its stake in Innodata Inc. by 233.1%, acquiring an additional 52,420 shares during the first quarter, bringing its total ownership to 74,905 shares valued at approximately $2.69 million.
• Analysts have mixed forecasts for Innodata's stock, with Wedbush lowering their price objective from $75.00 to $58.00, while BWS Financial reaffirmed a "buy" rating with a target price of $74.00.
• The company's recent earnings report showed a significant beat on estimates with $0.20 earnings per share and a 79.7% year-over-year revenue growth, totaling $58.39 million for the quarter.

Informed Momentum Co LLC lifted its holdings in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 233.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,905 shares of the technology company's stock after purchasing an additional 52,420 shares during the quarter. Informed Momentum Co LLC owned about 0.24% of Innodata worth $2,689,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Creative Financial Designs Inc. ADV purchased a new position in Innodata in the first quarter valued at about $29,000. KBC Group NV purchased a new stake in shares of Innodata during the first quarter worth about $52,000. Motco purchased a new stake in shares of Innodata during the first quarter worth about $72,000. Headlands Technologies LLC purchased a new stake in shares of Innodata during the first quarter worth about $90,000. Finally, USA Financial Formulas increased its position in shares of Innodata by 180.5% during 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. Institutional investors and hedge funds own 30.75% of the company's stock.

Wall Street Analysts Forecast Growth

INOD has been the topic of a number of analyst reports. Wedbush dropped their target price on 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 reissued a "buy" rating and issued a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. One equities 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, Innodata presently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Innodata Stock Down 1.1%

NASDAQ:INOD traded down $0.43 during trading hours on Friday, hitting $40.19. 3,182,031 shares of the stock traded hands, compared to its average volume of 2,847,652. The firm has a 50 day moving average price of $46.94 and a 200 day moving average price of $43.42. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09. Innodata Inc. has a fifty-two week low of $13.02 and a fifty-two week high of $71.00. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 32.41 and a beta of 2.75.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $0.20 earnings per share (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 firm had revenue of $58.39 million during the quarter, compared to analysts' expectations of $56.35 million. Innodata's quarterly revenue was up 79.7% compared to the same quarter last year. Equities research analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current year.

Innodata Company 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.