Short Interest in Innodata Inc. (NASDAQ:INOD) Rises By 42.9%

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Innodata Inc. (NASDAQ:INOD - Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 6,060,000 shares, anincreaseof42.9% from the July 15th total of 4,240,000 shares. Based on an average trading volume of 2,700,000 shares, the days-to-cover ratio is presently 2.2 days. Currently,21.7% of the shares of the company are sold short. Currently,21.7% of the shares of the company are sold short. Based on an average trading volume of 2,700,000 shares, the days-to-cover ratio is presently 2.2 days.

Hedge Funds Weigh In On Innodata

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV bought a new stake in shares of Innodata in the 1st quarter valued at about $29,000. Farther Finance Advisors LLC acquired a new stake in shares of Innodata during the 2nd quarter worth approximately $36,000. KBC Group NV acquired a new stake in shares of Innodata during the 1st quarter worth approximately $52,000. Toth Financial Advisory Corp boosted its position in Innodata by 40.2% in the second quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company's stock valued at $59,000 after buying an additional 330 shares in the last quarter. Finally, Motco acquired a new stake in Innodata in the first quarter valued at approximately $72,000. 30.75% of the stock is owned by institutional investors and hedge funds.

Innodata Stock Down 1.5%

NASDAQ INOD opened at $39.58 on Tuesday. Innodata has a 1-year low of $13.02 and a 1-year high of $71.00. The stock's 50 day moving average is $46.76 and its two-hundred day moving average is $43.49. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 31.92 and a beta of 2.75.

Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, July 31st. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. The company had revenue of $58.39 million during the quarter, compared to analysts' expectations of $56.35 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The business's revenue was up 79.7% compared to the same quarter last year. Equities analysts forecast that Innodata will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wedbush decreased their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. BWS Financial reaffirmed a "buy" rating and issued a $74.00 target price on shares of Innodata in a research 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. Based on data from MarketBeat.com, Innodata presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

Innodata Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.