Innodata (NASDAQ:INOD) Hits New 52-Week High – Should You Buy?

Innodata Inc. (NASDAQ:INOD) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $55.45 and last traded at $52.90, with a volume of 1043849 shares traded. The stock had previously closed at $52.29.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on INOD shares. Chardan Capital reissued a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Wedbush started coverage on Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price for the company. Finally, BWS Financial boosted their target price on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Innodata presently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Innodata Trading Up 3.0 %

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 stock has a market cap of $1.56 billion, a price-to-earnings ratio of 91.26 and a beta of 2.57. The business’s 50 day moving average is $39.63 and its 200 day moving average is $28.82.

Insider Activity

In related news, Director Nauman Sabeeh Toor sold 110,207 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $44.00, for a total value of $4,849,108.00. Following the completion of the sale, the director now directly owns 209,194 shares of the company’s stock, valued at $9,204,536. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Louise C. Forlenza sold 4,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.10, for a total transaction of $180,400.00. Following the completion of the transaction, the director now owns 8,278 shares of the company’s stock, valued at $373,337.80. This represents a 32.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 985,083 shares of company stock worth $44,861,870. 15.23% of the stock is currently owned by insiders.

Institutional Trading of Innodata

Institutional investors and hedge funds have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new stake in Innodata in the fourth quarter valued at approximately $952,000. Northern Trust Corp increased its holdings in shares of Innodata by 9.9% in the 4th quarter. Northern Trust Corp now owns 252,753 shares of the technology company’s stock valued at $9,989,000 after acquiring an additional 22,808 shares during the period. Voya Investment Management LLC purchased a new stake in Innodata in the 4th quarter valued at $323,000. Price T Rowe Associates Inc. MD raised its position in Innodata by 11.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,105 shares of the technology company’s stock valued at $756,000 after purchasing an additional 1,996 shares during the last quarter. Finally, Harvest Investment Services LLC acquired a new stake in Innodata during the 4th quarter worth $747,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.