Innodata (NASDAQ:INOD) Stock Price Down 16.3% – What’s Next?

by · The Cerbat Gem

Shares of Innodata Inc. (NASDAQ:INOD – Get Free Report) fell 16.3% during mid-day trading 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.

Wall Street Analyst Weigh In

Several research firms have weighed in on INOD. Chardan Capital reissued a “buy” rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th. BWS Financial increased 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, February 21st. Maxim Group lifted their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Wedbush initiated coverage on shares of Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Read Our Latest Stock Analysis on Innodata

Innodata Stock Performance

The stock has a market cap of $889.80 million, a price-to-earnings ratio of 33.40 and a beta of 2.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s 50-day moving average is $45.25 and its 200-day moving average is $35.94.

Innodata (NASDAQ:INOD – Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business had revenue of $59.18 million for the quarter, compared to analysts’ expectations of $53.01 million. Analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insider Transactions at Innodata

In related news, COO Ashok Mishra sold 48,650 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction 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 trade represents a 44.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the sale, the chief financial officer now owns 18,000 shares in the company, valued at $1,171,620. This represents a 62.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,427 shares of company stock worth $17,790,794 in the last three months. Company insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in shares of Innodata in the 4th quarter worth approximately $11,283,000. Palisades Investment Partners LLC raised its holdings in Innodata by 6.1% during the 4th quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company’s stock worth $14,569,000 after buying an additional 21,093 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Innodata during the fourth quarter valued at approximately $5,282,000. State of Wyoming acquired a new stake in Innodata during the 4th quarter valued at $250,000. Finally, ProShare Advisors LLC purchased a new stake in Innodata in the 4th quarter worth about $301,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

About Innodata

(Get Free Report)

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.

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