Innodata (NASDAQ:INOD) Trading Down 9.1% – What’s Next?

Innodata Inc. (NASDAQ:INOD) fell 9.1% during mid-day trading on Monday . The stock traded as low as $55.61 and last traded at $56.30. 2,248,640 shares changed hands during trading, an increase of 16% from the average session volume of 1,940,693 shares. The stock had previously closed at $61.91.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Maxim Group lifted their price objective on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Wedbush initiated coverage on Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target for the company. BWS Financial boosted their target price on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Chardan Capital restated a “buy” rating and set a $45.00 price target on shares of Innodata in a report on Friday, December 13th. Finally, StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Innodata Stock Up 10.4 %

The company has a market cap of $1.86 billion, a P/E ratio of 75.50 and a beta of 2.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The business’s 50 day moving average price is $42.44 and its 200-day moving average price is $30.91.

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

Insiders Place Their Bets

In other Innodata news, COO Ashok Mishra sold 58,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $44.97, for a total value of $2,630,745.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the sale, the director now owns 209,194 shares of the company’s stock, valued at $9,204,536. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 565,484 shares of company stock valued at $29,226,292. 15.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INOD. Principal Financial Group Inc. acquired a new stake in shares of Innodata during the third quarter worth $311,000. Jennison Associates LLC bought a new position in Innodata during the 4th quarter worth about $402,000. Los Angeles Capital Management LLC acquired a new stake in shares of Innodata in the 3rd quarter valued at about $330,000. Geode Capital Management LLC raised its stake in shares of Innodata by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after purchasing an additional 13,609 shares during the period. Finally, Silverleafe Capital Partners LLC bought a new stake in shares of Innodata in the fourth quarter valued at about $913,000. 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.