Innodata (NASDAQ:INOD) Sees Unusually-High Trading Volume – Here’s Why

Innodata Inc. (NASDAQ:INOD) saw an uptick in trading volume on Thursday . 1,256,291 shares traded hands during trading, an increase of 75% from the previous session’s volume of 719,225 shares.The stock last traded at $46.91 and had previously closed at $44.45.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INOD. Craig Hallum assumed coverage on shares of Innodata in a research note on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target for the company. BWS Financial lifted their target price on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.67.

Innodata Price Performance

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $22.64 and a two-hundred day moving average of $17.95. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 75.88 and a beta of 2.30.

Insider Buying and Selling

In other Innodata news, CEO Jack Abuhoff sold 225,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,188,358 shares in the company, valued at approximately $55,116,044.04. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Marissa B. Espineli sold 38,333 shares of Innodata stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $47.17, for a total transaction of $1,808,167.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 475,277 shares of company stock valued at $21,535,466. Corporate insiders own 15.23% of the company’s stock.

Hedge Funds Weigh In On Innodata

Hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new position in shares of Innodata during the second quarter valued at approximately $27,000. Elkhorn Partners Limited Partnership purchased a new position in shares of Innodata during the 1st quarter worth $94,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Innodata by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after purchasing an additional 982 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Innodata by 11.2% in the first quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock valued at $147,000 after purchasing an additional 2,230 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Innodata in the third quarter valued at $206,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.