Innodata (NASDAQ:INOD) Shares Gap Up – What’s Next?

Innodata Inc. (NASDAQ:INOD) gapped up prior to trading on Monday . The stock had previously closed at $41.82, but opened at $45.14. Innodata shares last traded at $45.11, with a volume of 296,973 shares trading hands.

Wall Street Analysts Forecast Growth

INOD has been the subject of a number of analyst reports. Wedbush initiated coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price for the company. BWS Financial boosted their price objective on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Maxim Group boosted their price objective on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Chardan Capital restated a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Innodata Price Performance

The firm has a market cap of $1.42 billion, a P/E ratio of 53.47 and a beta of 2.59. 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’s 50-day moving average is $44.85 and its 200-day moving average is $34.70.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.20. The firm had revenue of $59.18 million for the quarter, compared to analyst estimates of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. As a group, equities analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insider Transactions at Innodata

In other news, CFO Marissa B. Espineli sold 30,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the sale, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. This represents a 62.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ashok Mishra sold 48,650 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the sale, the chief operating officer now directly owns 60,000 shares in the company, valued at approximately $3,904,200. The trade was a 44.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,427 shares of company stock valued at $17,790,794. 15.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INOD. Principal Financial Group Inc. acquired a new position in Innodata during the 3rd quarter worth about $311,000. Charles Schwab Investment Management Inc. lifted its position in Innodata by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock worth $1,291,000 after buying an additional 1,843 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after buying an additional 3,739 shares in the last quarter. Centiva Capital LP acquired a new position in Innodata during the 3rd quarter valued at about $318,000. Finally, Point72 Asset Management L.P. acquired a new position in Innodata during the 3rd quarter valued at about $206,000. Institutional investors and hedge funds 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.