Innodata (NASDAQ:INOD) Stock Price Up 14.8% – Should You Buy?

Shares of Innodata Inc. (NASDAQ:INOD) traded up 14.8% during trading on Monday . The stock traded as high as $44.09 and last traded at $44.97. 1,155,659 shares changed hands during trading, a decline of 21% from the average session volume of 1,465,903 shares. The stock had previously closed at $39.19.

Analyst Ratings Changes

Several analysts recently commented on the stock. BWS Financial reaffirmed a “buy” rating and set a $74.00 target price on shares of Innodata in a report on Monday. Maxim Group lifted their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Wedbush reduced their target price on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Innodata Stock Down 2.3%

The firm’s 50-day moving average price is $38.51 and its 200 day moving average price is $40.97. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 41.88 and a beta of 2.65. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.09.

Innodata (NASDAQ:INOD) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Innodata had a net margin of 17.53% and a return on equity of 55.38%. The business had revenue of $58.34 million during the quarter, compared to analysts’ expectations of $57.64 million. Innodata’s quarterly revenue was up 120.1% on a year-over-year basis. On average, sell-side analysts forecast that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP purchased a new position in Innodata during the fourth quarter worth about $29,000. Creative Financial Designs Inc. ADV bought a new stake in Innodata in the first quarter worth about $29,000. Meeder Asset Management Inc. bought a new stake in Innodata in the fourth quarter worth about $36,000. AlphaQuest LLC raised its position in Innodata by 79.4% in the fourth 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 period. Finally, KBC Group NV bought a new stake in shares of Innodata in the first quarter valued at approximately $52,000. 30.75% of the stock is currently 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.