Trexquant Investment LP Has $6.39 Million Position in Innodata Inc. $INOD

Key Points

• Trexquant Investment LP has significantly reduced its stake in Innodata Inc. (INOD) by 40.7%, owning 178,091 shares worth approximately $6.39 million after selling 122,397 shares in the first quarter.
• Despite this reduction, a number of institutional investors, including Invesco and MIRAE ASSET GLOBAL, have increased their positions in Innodata, which is now 30.75% owned by such entities.
• Equities analysts maintain a positive outlook on Innodata, with an average price target of $55.00 and five analysts rating the stock as a Buy.

Trexquant Investment LP decreased its position in Innodata Inc. (NASDAQ:INOD - Free Report) by 40.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 178,091 shares of the technology company's stock after selling 122,397 shares during the quarter. Trexquant Investment LP owned 0.56% of Innodata worth $6,393,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV bought a new stake in shares of Innodata in the 1st quarter worth about $29,000. KBC Group NV bought a new stake in Innodata during the 1st quarter worth about $52,000. Motco bought a new stake in Innodata during the 1st quarter worth about $72,000. AlphaQuest LLC grew its holdings in Innodata by 137.2% during the 1st quarter. AlphaQuest LLC now owns 2,443 shares of the technology company's stock worth $88,000 after acquiring an additional 1,413 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Innodata during the 1st quarter worth about $90,000. Institutional investors own 30.75% of the company's stock.

Innodata Stock Performance

INOD stock traded up $4.07 during midday trading on Thursday, reaching $40.75. 3,044,209 shares of the company were exchanged, compared to its average volume of 2,153,934. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.87 and a quick ratio of 2.87. The business has a 50-day moving average price of $45.15 and a two-hundred day moving average price of $43.05. 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 $1.30 billion, a price-to-earnings ratio of 32.86 and a beta of 2.58.

Innodata (NASDAQ:INOD - Get Free Report) last announced its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $58.39 million during the quarter, compared to analysts' expectations of $56.35 million. The business's revenue was up 79.7% on a year-over-year basis. Equities research analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

INOD has been the topic of a number of research analyst reports. BWS Financial reissued a "buy" rating and set a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. Wedbush decreased their price target on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $55.00.

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.