Innodata (NASDAQ:INOD) Hits New 52-Week High – Still a Buy?

Shares of Innodata Inc. (NASDAQ:INOD) reached a new 52-week high during trading on Wednesday . The company traded as high as $77.47 and last traded at $73.86, with a volume of 2362318 shares. The stock had previously closed at $72.20.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and issued a $74.00 price target on shares of Innodata in a report on Monday, June 16th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Innodata has an average rating of “Buy” and a consensus target price of $63.00.

Innodata Trading Down 1.2%

The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 55.34 and a beta of 2.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87. The firm has a fifty day moving average of $48.91 and a 200-day moving average of $43.92.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $56.35 million. Innodata’s quarterly revenue was up 79.7% on a year-over-year basis. As a group, equities analysts predict that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innodata

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Innodata by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company’s stock valued at $63,197,000 after buying an additional 120,630 shares during the last quarter. Boston Family Office LLC purchased a new position in Innodata in the 1st quarter valued at about $589,000. Strong Tower Advisory Services purchased a new position in Innodata in the 1st quarter valued at about $835,000. Virtu Financial LLC bought a new position in shares of Innodata during the first quarter worth about $1,476,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Innodata by 63.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,471 shares of the technology company’s stock worth $843,000 after purchasing an additional 9,142 shares during the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.