BWS Financial Initiates Coverage on Innodata (NASDAQ:INOD)

BWS Financial initiated coverage on shares of Innodata (NASDAQ:INOD) in a research note published on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $24.00 target price on the technology company’s stock.

Separately, TheStreet raised Innodata from a d rating to a c- rating in a report on Friday, February 23rd.

Innodata Price Performance

INOD opened at $12.96 on Wednesday. The stock’s 50 day moving average price is $7.77 and its 200-day moving average price is $8.18. Innodata has a 52-week low of $5.46 and a 52-week high of $15.36. The stock has a market capitalization of $372.60 million, a PE ratio of 216.04 and a beta of 2.02. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.46 and a current ratio of 1.46.

Innodata (NASDAQ:INOD) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.05 earnings per share for the quarter. The business had revenue of $26.11 million for the quarter. Innodata had a return on equity of 9.08% and a net margin of 2.33%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in Innodata in the 3rd quarter worth $25,000. Montag A & Associates Inc. bought a new position in shares of Innodata in the fourth quarter worth about $33,000. Victory Capital Management Inc. purchased a new position in shares of Innodata during the 4th quarter valued at about $53,000. Elkhorn Partners Limited Partnership purchased a new stake in Innodata in the 1st quarter worth approximately $94,000. Finally, Private Advisor Group LLC bought a new stake in Innodata during the 3rd quarter worth approximately $100,000. 30.75% of the stock is currently owned by 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.