Innodata (NASDAQ:INOD) Trading Down 9.1% – What’s Next?

Innodata Inc. (NASDAQ:INOD) dropped 9.1% during mid-day trading on Monday . The company traded as low as $55.61 and last traded at $56.30. 2,248,640 shares changed hands during trading, an increase of 16% from the average daily volume of 1,940,693 shares. The stock had previously closed at $61.91.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on INOD shares. Maxim Group boosted their price target on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a report on Friday. Wedbush initiated coverage on Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective for the company. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Chardan Capital restated a “buy” rating and issued a $45.00 price target on shares of Innodata in a report on Friday, December 13th. Finally, BWS Financial upped their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.00.

Innodata Stock Down 1.4 %

The stock has a fifty day moving average of $41.60 and a two-hundred day moving average of $30.33. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 71.56 and a beta of 2.57.

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, topping analysts’ consensus estimates of $0.11 by $0.20. The business had revenue of $59.18 million during the quarter, compared to analysts’ expectations of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. As a group, analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Nauman Sabeeh Toor sold 200,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $45.37, for a total value of $9,074,000.00. Following the completion of the sale, the director now owns 319,401 shares of the company’s stock, valued at $14,491,223.37. This represents a 38.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Ashok Mishra sold 58,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $44.97, for a total value of $2,630,745.00. The disclosure for this sale can be found here. Insiders sold a total of 368,707 shares of company stock worth $16,553,853 over the last ninety days. 15.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its holdings in Innodata by 2.0% during the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company’s stock valued at $466,000 after purchasing an additional 232 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Innodata by 2.7% during the fourth quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company’s stock valued at $447,000 after acquiring an additional 300 shares in the last quarter. AlphaQuest LLC increased its position in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after acquiring an additional 456 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Innodata by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company’s stock worth $608,000 after acquiring an additional 533 shares in the last quarter. Finally, Allworth Financial LP purchased a new position in Innodata in the fourth quarter valued at about $29,000. 30.75% of the stock is owned by institutional investors and hedge funds.

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.