Weiss Ratings Reaffirms Hold (C) Rating for Innodata (NASDAQ:INOD)

Key Points

• Weiss Ratings reaffirmed a "hold (c)" rating for Innodata (NASDAQ: INOD), indicating no change in their position regarding the stock.
• BWS Financial increased its target price for Innodata from $74.00 to $110.00, giving the stock a "buy" rating as four analysts currently rate it as a buy and one as a hold.
• Innodata's stock experienced a 5.9% decline during midday trading on Tuesday, trading at $76.86, down from its recent yearly high of $93.85.

Innodata (NASDAQ:INOD - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

Separately, BWS Financial upped their target price on Innodata from $74.00 to $110.00 and gave the stock a "buy" rating in a report on Friday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Innodata currently has an average rating of "Moderate Buy" and a consensus target price of $72.00.

Innodata Stock Down 5.9%

Shares of INOD stock traded down $4.82 during midday trading on Tuesday, reaching $76.86. 1,347,565 shares of the stock were exchanged, compared to its average volume of 2,225,892. Innodata has a 1 year low of $16.58 and a 1 year high of $93.85. The company's 50 day moving average is $57.43 and its two-hundred day moving average is $47.31. 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 firm has a market cap of $2.45 billion, a PE ratio of 62.02 and a beta of 2.96.

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

Institutional Trading of Innodata

Several institutional investors have recently added to or reduced their stakes in the business. U.S. Capital Wealth Advisors LLC purchased a new stake in Innodata during the 3rd quarter valued at $602,000. City Center Advisors LLC bought a new position in shares of Innodata during the 3rd quarter valued at $468,000. State of Wyoming lifted its holdings in shares of Innodata by 38.3% during the 2nd quarter. State of Wyoming now owns 4,334 shares of the technology company's stock valued at $222,000 after buying an additional 1,200 shares during the period. Nomura Holdings Inc. bought a new position in shares of Innodata during the 2nd quarter valued at $253,000. Finally, FORA Capital LLC bought a new position in shares of Innodata during the 2nd quarter valued at $797,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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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