Short Interest in Innodata Inc. (NASDAQ:INOD) Drops By 14.6%

Innodata Inc. (NASDAQ:INOD) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 3,870,000 shares, a decrease of 14.6% from the February 13th total of 4,530,000 shares. Currently, 15.7% of the shares of the stock are short sold. Based on an average daily volume of 2,090,000 shares, the short-interest ratio is presently 1.9 days.

Innodata Trading Up 1.1 %

Shares of NASDAQ:INOD traded up $0.47 during trading on Thursday, reaching $44.40. The company’s stock had a trading volume of 285,887 shares, compared to its average volume of 1,158,888. The stock has a market capitalization of $1.39 billion, a PE ratio of 52.08 and a beta of 2.59. Innodata has a 12 month low of $5.46 and a 12 month high of $71.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The firm’s 50 day simple moving average is $44.61 and its two-hundred day simple moving average is $34.21.

Innodata (NASDAQ:INOD) last posted its quarterly earnings data 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 business had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. On average, research analysts predict that Innodata will post 0.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Transactions at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the firm’s 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 sale, the chief financial officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was 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 of the company’s stock, valued at approximately $799,654.80. This trade represents a 94.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 385,634 shares of company stock valued at $22,639,902 over the last three months. Corporate insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP bought a new stake in shares of Innodata in the 4th quarter worth about $29,000. USA Financial Formulas bought a new stake in Innodata in the fourth quarter worth about $36,000. Meeder Asset Management Inc. bought a new stake in Innodata in the fourth quarter worth about $36,000. AlphaQuest LLC boosted its position in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after buying an additional 456 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Innodata during the fourth quarter valued at approximately $150,000. Institutional investors own 30.75% of the company’s stock.

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.