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Are Investors Eager To Sell Holdings In Innodata Inc. (NASDAQ: INOD)?

Innodata Inc. (NASDAQ:INOD) price closed lower on Friday, September 15, dropping -6.05% below its previous close.

A look at the daily price movement shows that the last close reads $8.43, with intraday deals fluctuated between $7.85 and $8.49. The company’s 5Y monthly beta was ticking 2.00. Taking into account the 52-week price action we note that the stock hit a 52-week high of $15.36 and 52-week low of $2.78. The stock subtracted -39.77% on its value in the past month.

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Innodata Inc., which has a market valuation of $238.63 million, is expected to release its quarterly earnings report Nov 08, 2023 – Nov 13, 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give INOD a short term outlook of Hold on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as 50% Sell.

Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 1 analysts have assigned INOD a recommendation rating as follows: 1 rate it as a Hold; 0 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Innodata Inc. (INOD) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Hold, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

The overview shows that INOD’s price is at present -34.41% off the SMA20 and -33.63% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 27.07, with weekly volatility standing at 8.40%. The indicator jumps to 8.90% when calculated based on the past 30 days. Innodata Inc. (NASDAQ:INOD)’s beta value is holding at 2.02, while the average true range (ATR) indicator is currently reading 1.04. Considering analysts have assigned the stock a price target range of $5.00-$5.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $5.00. Based on this estimate, we see that current price is roughly 36.87% off the estimated low and 36.87% off the forecast high. Investors will no doubt be excited to see the share price rise to $5.00, which is the median consensus price, and at that level INOD would be 36.87% from current price.

Turning out attention to how the Innodata Inc. stock has performed in comparison to its peers in the industry, here’s what we find: INOD’s stock is -6.05% on the day and 149.06% in the past 12 months, while AMREP Corporation (AXR) traded -1.86% in the last session and was positioned 56.48% up on its price 12 months ago. Another comparison is with WNS (Holdings) Limited (WNS) whose stock price was down -2.35% in the last trading session, and has flourished -24.20% over the past year. Also, Broadridge Financial Solutions Inc. (BR) showed down trend of -1.54% while its price kept floating at 11.02% over the past year. Elsewhere in the market, the S&P 500 Index has stumbled -1.22% in last trading session, with the Dow Jones Industrial also saw a negative session on the day with -0.83%.

An analysis of the Innodata Inc. (NASDAQ:INOD) stock in terms of its daily trading volume indicates that the 3-month average is 700.64K. However, this figure increases on the past 10-day timeline to an average of 0.97 million.

Current records show that the company has 27.86M in outstanding shares. The insiders’ percentage holdings are 8.32% of outstanding shares while the percentage share held by institutions stands at 19.70%. The stats also highlight that short interest as of Aug 30, 2023, stood at 2.63 million shares, which puts the short ratio at the time at 4.18. From this we can glean that short interest is 9.31% of company’s current outstanding shares. Notably, we see that shares short in August rose slightly given the previous month’s figure stood at 2.14 million. But the 167.12% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.