Innodata (NASDAQ:INOD) Shares Gap Down – Here’s What Happened

Innodata Inc. (NASDAQ:INOD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $47.25, but opened at $44.44. Innodata shares last traded at $42.62, with a volume of 326,262 shares traded.

Analyst Upgrades and Downgrades

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

Innodata Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The business’s fifty day simple moving average is $44.08 and its 200 day simple moving average is $33.19. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 49.27 and a beta of 2.59.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business had revenue of $59.18 million for the quarter, compared to analysts’ expectations of $53.01 million. Research analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insider Activity

In other news, Director Nauman Sabeeh Toor sold 110,207 shares of the business’s stock in a transaction dated 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 owns 209,194 shares of the company’s stock, valued at approximately $9,204,536. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was 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 directly owns 18,000 shares in the company, valued at $1,171,620. The trade was a 62.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 385,634 shares of company stock worth $22,639,902. 15.23% of the stock is currently owned by insiders.

Institutional Trading of Innodata

Several hedge funds and other institutional investors have recently bought and sold shares of INOD. Principal Financial Group Inc. bought a new position in Innodata during the 3rd quarter worth approximately $311,000. Jennison Associates LLC acquired a new stake in shares of Innodata during the 4th quarter valued at approximately $402,000. Los Angeles Capital Management LLC bought a new position in Innodata during the third quarter worth $330,000. Geode Capital Management LLC boosted its holdings in Innodata by 2.3% in the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after purchasing an additional 13,609 shares during the period. Finally, Silverleafe Capital Partners LLC bought a new stake in Innodata during the fourth quarter valued at $913,000. 30.75% of the stock is owned by institutional investors.

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.