Innodata (NASDAQ:INOD) Trading Up 7% – Here’s What Happened

Innodata Inc. (NASDAQ:INOD)’s share price shot up 7% during mid-day trading on Friday . The company traded as high as $63.15 and last traded at $61.6310. 435,667 shares changed hands during trading, a decline of 65% from the average session volume of 1,229,576 shares. The stock had previously closed at $57.61.

Analysts Set New Price Targets

A number of brokerages have weighed in on INOD. BWS Financial raised Innodata from a “buy” rating to a “top pick” rating and set a $110.00 price objective on the stock in a report on Monday, January 5th. Weiss Ratings downgraded Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Zacks Research lowered shares of Innodata from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Wedbush upped their price target on shares of Innodata from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.67.

Innodata Trading Up 6.8%

The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $56.56 and a 200-day moving average of $57.95. The stock has a market cap of $1.96 billion, a PE ratio of 63.44 and a beta of 2.43.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.10. The company had revenue of $62.55 million during the quarter, compared to the consensus estimate of $59.78 million. Innodata had a return on equity of 41.67% and a net margin of 14.11%.The business’s revenue was up 19.8% compared to the same quarter last year. On average, analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

Insider Transactions at Innodata

In other Innodata news, COO Ashok Mishra sold 200,000 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $61.39, for a total transaction of $12,278,000.00. Following the transaction, the chief operating officer owned 60,000 shares of the company’s stock, valued at $3,683,400. This represents a 76.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Louise C. Forlenza sold 8,278 shares of Innodata stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $65.00, for a total value of $538,070.00. Following the completion of the sale, the director directly owned 3,943 shares of the company’s stock, valued at approximately $256,295. This represents a 67.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 236,372 shares of company stock valued at $14,572,507. Insiders own 12.20% of the company’s stock.

Institutional Trading of Innodata

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC lifted its holdings in shares of Innodata by 2,675.0% during the 4th quarter. FNY Investment Advisers LLC now owns 1,030 shares of the technology company’s stock worth $52,000 after acquiring an additional 1,070 shares during the period. Allspring Global Investments Holdings LLC increased its position in Innodata by 30.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,675 shares of the technology company’s stock worth $301,000 after purchasing an additional 1,315 shares during the last quarter. Spire Wealth Management raised its stake in Innodata by 1,187.9% during the fourth quarter. Spire Wealth Management now owns 8,526 shares of the technology company’s stock worth $434,000 after purchasing an additional 7,864 shares during the period. Silverleafe Capital Partners LLC boosted its holdings in shares of Innodata by 187.6% in the 4th quarter. Silverleafe Capital Partners LLC now owns 23,349 shares of the technology company’s stock valued at $1,190,000 after purchasing an additional 15,231 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Innodata during the 4th quarter valued at $175,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Innodata Company Profile

Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata’s platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.

The firm’s offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.