Innodata (NASDAQ:INOD) Trading Up 9.6% – What’s Next?

Innodata Inc. (NASDAQ:INOD) traded up 9.6% during mid-day trading on Friday . The stock traded as high as $47.60 and last traded at $47.28. 585,186 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 2,106,024 shares. The stock had previously closed at $43.14.

Analyst Ratings Changes

A number of analysts have commented on the company. BWS Financial lifted their price target on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Chardan Capital reaffirmed a “buy” rating and set a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Maxim Group upped their target price on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Wedbush began coverage on shares of Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective on the stock. 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Innodata Price Performance

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 company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 56.23 and a beta of 2.59. The stock’s 50-day simple moving average is $44.30 and its two-hundred day simple moving average is $33.35.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The firm had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. Equities research analysts predict that Innodata Inc. will post 0.81 earnings per share for the current year.

Insider Activity at Innodata

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the transaction, the director now directly owns 12,417 shares in the company, valued at $799,654.80. The trade was a 94.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the sale, the chief operating officer now directly owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. This represents a 44.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 385,634 shares of company stock valued at $22,639,902. 15.23% of the stock is owned by insiders.

Institutional Trading of Innodata

Hedge funds have recently made changes to their positions in the company. Palisades Investment Partners LLC increased its stake in Innodata by 6.1% during the fourth quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company’s stock worth $14,569,000 after acquiring an additional 21,093 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Innodata during the 4th quarter worth about $5,282,000. State of Wyoming purchased a new stake in Innodata in the 4th quarter valued at about $250,000. ProShare Advisors LLC purchased a new stake in Innodata in the 4th quarter valued at about $301,000. Finally, Nuveen Asset Management LLC boosted its stake in Innodata by 20.6% during the fourth quarter. Nuveen Asset Management LLC now owns 312,639 shares of the technology company’s stock worth $12,355,000 after buying an additional 53,376 shares during the period. Hedge funds and other 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.