Innodata (NASDAQ:INOD) Stock Price Down 16.3% – Here’s Why

Shares of Innodata Inc. (NASDAQ:INOD) traded down 16.3% on Friday . The company traded as low as $28.56 and last traded at $27.91. 1,062,084 shares traded hands during trading, a decline of 13% from the average session volume of 1,219,151 shares. The stock had previously closed at $33.33.

Analysts Set New Price Targets

INOD has been the subject of several research reports. BWS Financial boosted their price objective on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Chardan Capital reiterated a “buy” rating and issued a $45.00 price target on shares of Innodata in a report on Friday, December 13th. Maxim Group raised their price objective on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Wedbush began coverage on Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Innodata Trading Down 10.1 %

The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The business has a 50 day simple moving average of $45.04 and a two-hundred day simple moving average of $36.20. The stock has a market cap of $938.06 million, a price-to-earnings ratio of 35.26 and a beta of 2.59.

Innodata (NASDAQ:INOD) last issued its quarterly 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. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The business had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. As a group, equities analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

Insider Transactions at Innodata

In related news, Director Nauman Sabeeh Toor sold 196,777 shares of the company’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 sale, the director now directly owns 12,417 shares of the company’s stock, valued at approximately $799,654.80. This represents a 94.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of Innodata stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the transaction, 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. Over the last 90 days, insiders have sold 275,427 shares of company stock valued at $17,790,794. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Innodata by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock valued at $64,802,000 after acquiring an additional 117,000 shares during the period. D. E. Shaw & Co. Inc. increased its position in Innodata by 1,718.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock worth $37,331,000 after buying an additional 892,663 shares during the period. Geode Capital Management LLC lifted its stake in Innodata by 2.3% in the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after buying an additional 13,609 shares during the last quarter. State Street Corp boosted its holdings 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 period. Finally, Driehaus Capital Management LLC bought a new position in shares of Innodata during the fourth quarter worth about $16,713,000. 30.75% of the stock is currently owned by institutional investors.

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.