Innodata (NASDAQ:INOD) Sets New 1-Year High - Time to Buy?

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $77.47 and last traded at $73.86, with a volume of 2362318 shares trading hands. The stock had previously closed at $72.20.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a "buy" rating and issued a $74.00 price target on shares of Innodata in a research note on Monday, June 16th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $63.00.

Innodata Stock Performance

The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.09. The company's 50-day moving average is $48.15 and its two-hundred day moving average is $43.55. The company has a market capitalization of $2.35 billion, a P/E ratio of 59.56 and a beta of 2.58.

Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results 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 analyst estimates of $56.35 million. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The company's quarterly revenue was up 79.7% on a year-over-year basis. Equities analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Innodata

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Wyoming increased its holdings in shares of Innodata by 38.3% during the second quarter. State of Wyoming now owns 4,334 shares of the technology company's stock valued at $222,000 after acquiring an additional 1,200 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Innodata in the second quarter worth about $253,000. FORA Capital LLC purchased a new position in Innodata in the second quarter worth about $797,000. Headlands Technologies LLC boosted its position in Innodata by 460.3% in the second quarter. Headlands Technologies LLC now owns 14,080 shares of the technology company's stock worth $721,000 after purchasing an additional 11,567 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Innodata by 108.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,776 shares of the technology company's stock valued at $296,000 after buying an additional 3,005 shares in the last quarter. Hedge funds and other institutional investors own 30.75% of the company's stock.

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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