Innodata (NASDAQ:INOD) Trading 7.9% Higher – What’s Next?

Innodata Inc. (NASDAQ:INOD)’s stock price traded up 7.9% on Thursday . The stock traded as high as $46.54 and last traded at $46.51. 1,264,438 shares changed hands during trading, an increase of 49% from the average session volume of 847,671 shares. The stock had previously closed at $43.09.

Analysts Set New Price Targets

A number of research firms recently issued reports on INOD. Wedbush began coverage on Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price for the company. BWS Financial increased their price objective on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Craig Hallum started coverage on shares of Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price objective on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $45.00 target price on shares of Innodata in a research note on Friday, December 13th. Finally, StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.20.

Innodata Price Performance

The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 76.88 and a beta of 2.56. The company’s fifty day moving average is $35.75 and its 200 day moving average is $23.13. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15.

Insider Transactions at Innodata

In other news, Director Nauman Sabeeh Toor sold 110,207 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the sale, the director now owns 209,194 shares in the company, valued at $9,204,536. This represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stewart R. Massey sold 50,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the transaction, the director now owns 25,262 shares in the company, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,035,083 shares of company stock worth $46,889,370 in the last three months. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. acquired a new position in shares of Innodata during the 3rd quarter worth about $311,000. Los Angeles Capital Management LLC acquired a new position in Innodata during the third quarter worth approximately $330,000. State Street Corp raised its stake in Innodata by 1.8% in the third quarter. State Street Corp now owns 537,301 shares of the technology company’s stock valued at $9,011,000 after buying an additional 9,408 shares during the period. Rathbones Group PLC acquired a new stake in shares of Innodata in the second quarter valued at approximately $916,000. Finally, Centiva Capital LP bought a new position in shares of Innodata during the 3rd quarter worth approximately $318,000. Institutional investors own 30.75% of the company’s stock.

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.