Innodata (NASDAQ:INOD) Trading Up 11.9% Following Analyst Upgrade

Innodata Inc. (NASDAQ:INOD) was up 11.9% during mid-day trading on Thursday after Wedbush raised their price target on the stock from $100.00 to $120.00. Wedbush currently has an outperform rating on the stock. Innodata traded as high as $119.80 and last traded at $121.1930. Approximately 863,375 shares traded hands during trading, a decline of 46% from the average daily volume of 1,594,701 shares. The stock had previously closed at $108.27.

A number of other brokerages have also weighed in on INOD. Wall Street Zen upgraded shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings lowered shares of Innodata from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. Finally, BWS Financial restated a “top pick” rating and set a $110.00 price target on shares of Innodata in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Insider Buying and Selling at Innodata

In other Innodata news, COO Ashok Mishra sold 242,901 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $90.15, for a total transaction of $21,897,525.15. Following the transaction, the chief operating officer directly owned 95,179 shares of the company’s stock, valued at $8,580,386.85. This trade represents a 71.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jack Abuhoff sold 150,000 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $94.39, for a total transaction of $14,158,500.00. Following the transaction, the chief executive officer directly owned 1,340,456 shares in the company, valued at approximately $126,525,641.84. The trade was a 10.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,178,826 shares of company stock worth $112,016,456. Insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On Innodata

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Innodata in the fourth quarter valued at about $26,000. Farther Finance Advisors LLC grew its stake in Innodata by 506.0% during the 4th quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock valued at $41,000 after acquiring an additional 673 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Innodata during the 1st quarter valued at about $45,000. IFP Advisors Inc grew its stake in Innodata by 1,567.5% during the 3rd quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock valued at $51,000 after acquiring an additional 627 shares in the last quarter. Finally, Leonteq Securities AG purchased a new stake in Innodata during the 4th quarter valued at about $51,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Stock Performance

The company has a market cap of $3.96 billion, a PE ratio of 110.10 and a beta of 2.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.49 and a current ratio of 2.49. The firm’s 50 day moving average is $62.81 and its 200-day moving average is $55.98.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.34. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The company had revenue of $90.10 million during the quarter, compared to analysts’ expectations of $76.47 million. During the same quarter in the prior year, the company earned $0.22 EPS. Innodata’s revenue was up 54.5% compared to the same quarter last year. On average, research analysts anticipate that Innodata Inc. will post 0.99 earnings per share for the current fiscal year.

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.