Innodata (NASDAQ:INOD) Stock Price Down 2.8% – Here’s What Happened

Innodata Inc. (NASDAQ:INOD) fell 2.8% during mid-day trading on Monday . The company traded as low as $35.91 and last traded at $36.04. 505,691 shares traded hands during trading, a decline of 60% from the average session volume of 1,271,144 shares. The stock had previously closed at $37.09.

Analyst Ratings Changes

INOD has been the topic of several recent research reports. Maxim Group increased their target price on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wedbush began coverage on Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price on the stock. Finally, BWS Financial raised their price target on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Innodata Trading Down 4.2 %

The stock has a market capitalization of $1.11 billion, a PE ratio of 41.79 and a beta of 2.66. The company’s 50 day moving average price is $44.93 and its two-hundred day moving average price is $37.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping 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, analysts expect that Innodata Inc. will post 0.81 earnings per share for the current year.

Insider Activity at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the transaction, the chief financial officer now owns 18,000 shares of the company’s stock, valued at $1,171,620. This trade represents a 62.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the transaction, the director now directly owns 12,417 shares in the company, valued at $799,654.80. This trade represents a 94.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,427 shares of company stock valued at $17,790,794 in the last three months. 15.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of INOD. Allworth Financial LP bought a new position in Innodata in the 4th quarter worth about $29,000. USA Financial Formulas bought a new stake in Innodata during the fourth quarter worth approximately $36,000. Meeder Asset Management Inc. acquired a new position in shares of Innodata in the 4th quarter worth $36,000. AlphaQuest LLC raised its holdings in Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after buying an additional 456 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Innodata in the 4th quarter worth approximately $150,000. 30.75% of the stock is owned by institutional investors and hedge funds.

About Innodata

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.