Innodata (NASDAQ:INOD) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Innodata Inc. (NASDAQ:INOD) saw unusually-strong trading volume on Wednesday . Approximately 431,802 shares traded hands during trading, a decline of 42% from the previous session’s volume of 741,043 shares.The stock last traded at $38.94 and had previously closed at $40.37.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INOD. BWS Financial boosted their price target on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Craig Hallum assumed coverage on Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

Innodata Trading Down 7.3 %

The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 62.71 and a beta of 2.30. The business has a 50-day moving average of $24.35 and a 200-day moving average of $18.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Insider Transactions at Innodata

In other Innodata news, Director Stewart R. Massey sold 50,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total value of $2,027,500.00. Following the transaction, the director now directly owns 25,262 shares in the company, valued at $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Louise C. Forlenza sold 4,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.10, for a total transaction of $180,400.00. Following the completion of the transaction, the director now owns 8,278 shares in the company, valued at approximately $373,337.80. This trade represents a 32.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 666,376 shares of company stock worth $30,335,517 in the last ninety days. Insiders own 15.23% of the company’s stock.

Institutional Investors Weigh In On Innodata

A number of large investors have recently modified their holdings of INOD. Barclays PLC grew its holdings in shares of Innodata by 324.3% during the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock valued at $647,000 after purchasing an additional 29,470 shares during the last quarter. Geode Capital Management LLC grew its holdings in Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after acquiring an additional 13,609 shares during the last quarter. State Street Corp raised its stake in shares of Innodata by 1.8% during the third quarter. State Street Corp now owns 537,301 shares of the technology company’s stock valued at $9,011,000 after acquiring an additional 9,408 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Innodata during the 3rd quarter worth about $206,000. Finally, Centiva Capital LP bought a new stake in shares of Innodata during the third quarter valued at approximately $318,000. 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.