Values First Advisors Inc. Acquires New Stake in Innodata Inc. $INOD

Key Points

• Values First Advisors Inc. has acquired a new stake in Innodata Inc., purchasing 7,139 shares valued at approximately $366,000 during the 2nd quarter.
• Research firms have upgraded Innodata's stock ratings, with Zacks Research moving it from "hold" to a "strong-buy" rating and Wedbush raising their price target from $75 to $90.
• Innodata reported a 79.7% year-over-year revenue increase in its recent quarterly earnings, with earnings per share of $0.20, exceeding estimates by $0.09.

Values First Advisors Inc. acquired a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,139 shares of the technology company's stock, valued at approximately $366,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Empirical Asset Management LLC purchased a new stake in shares of Innodata in the 2nd quarter valued at $256,000. New York State Teachers Retirement System purchased a new stake in shares of Innodata in the 2nd quarter valued at $127,000. Atria Wealth Solutions Inc. raised its holdings in shares of Innodata by 48.9% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 13,699 shares of the technology company's stock valued at $702,000 after buying an additional 4,497 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Innodata in the 2nd quarter valued at $207,000. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of Innodata by 22.6% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 6,500 shares of the technology company's stock valued at $333,000 after buying an additional 1,200 shares during the period. Hedge funds and other institutional investors own 30.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INOD. Zacks Research upgraded Innodata from a "hold" rating to a "strong-buy" rating in a report on Monday. Weiss Ratings restated a "hold (c)" rating on shares of Innodata in a report on Tuesday. Wedbush upped their price target on Innodata from $75.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, BWS Financial upped their price target on Innodata from $74.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $80.00.

Innodata Trading Down 1.8%

NASDAQ:INOD opened at $81.49 on Friday. The stock has a 50-day simple moving average of $59.62 and a 200-day simple moving average of $48.06. The stock has a market cap of $2.60 billion, a P/E ratio of 65.72 and a beta of 2.96. Innodata Inc. has a 1 year low of $17.56 and a 1 year high of $93.85. 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 (NASDAQ:INOD - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. The business had revenue of $58.39 million during the quarter, compared to analysts' expectations of $56.35 million. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The firm's quarterly revenue was up 79.7% on a year-over-year basis. As a group, analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

About Innodata

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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