Innodata Inc. (NASDAQ:INOD) Short Interest Up 23.8% in May

Innodata Inc. (NASDAQ:INOD - Get Free Report) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 5,300,000 shares, an increase of 23.8% from the April 30th total of 4,280,000 shares. Currently, 21.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,940,000 shares, the short-interest ratio is currently 2.7 days.

Innodata Stock Performance

NASDAQ INOD traded up $0.67 on Thursday, reaching $45.64. 2,579,576 shares of the company's stock traded hands, compared to its average volume of 1,404,014. Innodata has a fifty-two week low of $12.67 and a fifty-two week high of $71.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 53.69 and a beta of 2.75. The stock has a 50 day moving average price of $36.62 and a 200-day moving average price of $40.85.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business had revenue of $58.34 million during the quarter, compared to analysts' expectations of $57.64 million. The company's revenue for the quarter was up 120.1% on a year-over-year basis. Equities research analysts predict that Innodata will post 0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INOD has been the topic of a number of research analyst reports. Wedbush dropped their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. BWS Financial boosted their price target on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Maxim Group increased their price objective on Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Spire Wealth Management purchased a new position in shares of Innodata during the 4th quarter valued at approximately $166,000. Jennison Associates LLC acquired a new stake in shares of Innodata during the 4th quarter valued at about $402,000. Calamos Advisors LLC purchased a new position in shares of Innodata in the 4th quarter valued at about $283,000. Allworth Financial LP acquired a new position in Innodata in the 4th quarter worth about $29,000. Finally, Principal Financial Group Inc. raised its holdings in Innodata by 9.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company's stock worth $806,000 after purchasing an additional 1,828 shares during the period. 30.75% of the stock is owned by institutional investors and hedge funds.

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.