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

Innodata Inc. (NASDAQ:INOD) gapped down before the market opened on Monday . The stock had previously closed at $37.39, but opened at $35.50. Innodata shares last traded at $36.61, with a volume of 259,282 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on INOD. Maxim Group boosted their price objective on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Chardan Capital reissued a “buy” rating and issued a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. 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. Finally, Wedbush assumed coverage on Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Innodata Trading Down 1.8 %

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’s 50-day moving average is $45.47 and its two-hundred day moving average is $35.66. The company has a market cap of $1.15 billion, a P/E ratio of 43.19 and a beta of 2.59.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share 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 analysts’ expectations of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. As a group, equities research analysts predict that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Activity at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $1,171,620. The trade was a 62.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the transaction, the director now directly owns 12,417 shares of the company’s stock, valued at $799,654.80. This trade represents a 94.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,427 shares of company stock valued at $17,790,794. 15.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Innodata

Several large investors have recently made changes to their positions in INOD. Allworth Financial LP purchased a new position in Innodata during the 4th quarter valued at approximately $29,000. USA Financial Formulas bought a new position in shares of Innodata during the 4th quarter valued at approximately $36,000. Meeder Asset Management Inc. purchased a new position in shares of Innodata in the fourth quarter valued at $36,000. AlphaQuest LLC increased its position in Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after purchasing an additional 456 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Innodata during the fourth quarter valued at $150,000. 30.75% of the stock is owned by 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.