Innodata (NASDAQ:INOD) Shares Gap Up – What’s Next?

Shares of Innodata Inc. (NASDAQ:INOD) gapped up before the market opened on Tuesday . The stock had previously closed at $31.83, but opened at $35.28. Innodata shares last traded at $34.34, with a volume of 260,417 shares traded.

Wall Street Analyst Weigh In

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

Innodata Price Performance

The stock has a market capitalization of $1.05 billion, a P/E ratio of 39.53 and a beta of 2.66. 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 company’s 50-day simple moving average is $45.02 and its 200-day simple moving average is $36.48.

Innodata (NASDAQ:INOD) last issued its earnings results 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 the consensus estimate of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. As a group, sell-side analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insider Activity at Innodata

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm’s 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 completion of the sale, the director now owns 12,417 shares in the company, valued at approximately $799,654.80. This trade represents a 94.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Ashok Mishra sold 48,650 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the transaction, the chief operating officer now owns 60,000 shares in the company, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,427 shares of company stock worth $17,790,794. Company insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP bought a new stake in shares of Innodata during the 4th quarter worth approximately $29,000. USA Financial Formulas acquired a new stake in shares of Innodata in the 4th quarter valued at $36,000. Meeder Asset Management Inc. bought a new position in shares of Innodata in the 4th quarter valued at $36,000. AlphaQuest LLC raised its holdings in shares of Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after buying an additional 456 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Innodata during the 4th quarter worth $150,000. Institutional investors and hedge funds 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.