Yong Rong HK Asset Management Ltd Makes New Investment in Innodata Inc. (NASDAQ:INOD)

Yong Rong HK Asset Management Ltd bought a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 795,200 shares of the technology company's stock, valued at approximately $28,548,000. Innodata comprises about 6.6% of Yong Rong HK Asset Management Ltd's portfolio, making the stock its 5th biggest position. Yong Rong HK Asset Management Ltd owned 2.54% of Innodata as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV bought a new position in shares of Innodata during the 1st quarter valued at $29,000. Meeder Asset Management Inc. bought a new position in Innodata during the 4th quarter worth approximately $36,000. AlphaQuest LLC grew its position in Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after acquiring an additional 456 shares during the last quarter. KBC Group NV bought a new position in Innodata during the 1st quarter worth approximately $52,000. Finally, USA Financial Formulas grew its position in Innodata by 180.5% during the 1st 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 own 30.75% of the company's stock.

Innodata Trading Up 1.3%

NASDAQ:INOD traded up $0.66 during trading hours on Thursday, hitting $52.70. The company had a trading volume of 1,633,489 shares, compared to its average volume of 1,609,362. The company has a market capitalization of $1.67 billion, a PE ratio of 50.67 and a beta of 2.68. The stock has a 50-day moving average price of $42.83 and a 200 day moving average price of $41.97. Innodata Inc. has a 52 week low of $13.02 and a 52 week high of $71.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 2.36.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. The business had revenue of $58.34 million for the quarter, compared to analysts' expectations of $57.64 million. Innodata had a net margin of 17.53% and a return on equity of 55.38%. The company's revenue for the quarter was up 120.1% on a year-over-year basis. On average, equities research analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wedbush decreased their target price on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. BWS Financial reissued a "buy" rating and issued a $74.00 price target on shares of Innodata in a report on Monday, June 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.