Innodata (NASDAQ:INOD) Shares Down 2.8% – What’s Next?

Innodata Inc. (NASDAQ:INOD) shares fell 2.8% during trading on Monday . The company traded as low as $35.91 and last traded at $36.04. 505,691 shares were traded during trading, a decline of 60% from the average session volume of 1,271,144 shares. The stock had previously closed at $37.09.

Analysts Set New Price Targets

Several research analysts recently issued reports on INOD shares. BWS Financial lifted their target price on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wedbush began coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price for the company. Finally, Maxim Group raised their price target on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Innodata Stock Down 4.2 %

The company has a market capitalization of $1.11 billion, a P/E ratio of 41.79 and a beta of 2.66. The stock has a 50 day moving average price of $44.93 and a 200 day moving average price of $37.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were 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 owns 18,000 shares of the company’s stock, valued at $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 available through this link. Also, COO Ashok Mishra sold 48,650 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the transaction, the chief operating officer now directly owns 60,000 shares of the company’s stock, valued at $3,904,200. The trade was a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,427 shares of company stock valued at $17,790,794 over the last ninety days. 15.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INOD. Allworth Financial LP bought a new position in shares of Innodata during the 4th quarter valued at about $29,000. USA Financial Formulas bought a new position in shares of Innodata during the fourth quarter valued at about $36,000. Meeder Asset Management Inc. purchased a new position in shares of Innodata in the fourth quarter worth about $36,000. AlphaQuest LLC boosted its holdings in Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after acquiring an additional 456 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in Innodata in the 4th quarter worth approximately $150,000. 30.75% of the stock is currently 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.