Innodata (NASDAQ:INOD) Price Target Raised to $30.00 at BWS Financial

Innodata (NASDAQ:INOD) had its target price lifted by equities researchers at BWS Financial from $24.00 to $30.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. BWS Financial’s target price indicates a potential upside of 61.73% from the company’s current price.

Separately, Maxim Group started coverage on Innodata in a research note on Monday, July 15th. They set a “buy” rating and a $30.00 price target on the stock.

Innodata Price Performance

INOD stock traded up $2.18 on Friday, reaching $18.55. The company had a trading volume of 1,720,059 shares, compared to its average volume of 650,345. Innodata has a 1 year low of $5.46 and a 1 year high of $21.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.46 and a current ratio of 1.46. The company’s fifty day moving average is $16.29 and its 200 day moving average is $11.21. The company has a market cap of $533.37 million, a P/E ratio of 309.17 and a beta of 2.33.

Institutional Trading of Innodata

A number of institutional investors and hedge funds have recently made changes to their positions in INOD. White Pine Capital LLC increased its holdings in shares of Innodata by 13.0% during the 4th quarter. White Pine Capital LLC now owns 130,734 shares of the technology company’s stock worth $1,064,000 after buying an additional 15,055 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Innodata in the 4th quarter valued at $53,000. Private Advisor Group LLC increased its holdings in Innodata by 8.5% in the 4th quarter. Private Advisor Group LLC now owns 12,700 shares of the technology company’s stock valued at $103,000 after purchasing an additional 1,000 shares in the last quarter. Montag A & Associates Inc. acquired a new stake in Innodata in the 4th quarter valued at $33,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in Innodata in the 4th quarter valued at $187,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.