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

Innodata Inc. (NASDAQ:INOD) shares were down 16.3% during mid-day trading on Friday . The company traded as low as $102.54 and last traded at $101.64. Approximately 1,293,561 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 1,613,140 shares. The stock had previously closed at $121.50.

Analyst Ratings Changes

A number of analysts have issued reports on INOD shares. Weiss Ratings raised Innodata from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Wall Street Zen raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. BWS Financial reaffirmed a “top pick” rating and issued a $110.00 target price on shares of Innodata in a research note on Friday, April 10th. Finally, Wedbush raised their target price on Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Innodata currently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

Innodata Stock Down 16.1%

The business has a 50-day moving average of $65.52 and a 200-day moving average of $56.75. 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 stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 91.86 and a beta of 2.83.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.34. The firm had revenue of $90.10 million during the quarter, compared to the consensus estimate of $76.47 million. Innodata had a return on equity of 37.49% and a net margin of 13.86%.The company’s quarterly revenue was up 54.5% on a year-over-year basis. During the same period last year, the company earned $0.22 EPS. On average, sell-side analysts expect that Innodata Inc. will post 1.14 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Marissa B. Espineli sold 19,667 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $105.88, for a total transaction of $2,082,341.96. Following the completion of the sale, the chief financial officer directly owned 28,014 shares of the company’s stock, valued at approximately $2,966,122.32. This trade represents a 41.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jack Abuhoff sold 105,586 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $103.50, for a total value of $10,928,151.00. Following the sale, the chief executive officer directly owned 1,340,456 shares of the company’s stock, valued at $138,737,196. The trade was a 7.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,178,826 shares of company stock valued at $112,016,456 over the last 90 days. Company insiders own 11.80% of the company’s stock.

Institutional Trading of Innodata

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its position in Innodata by 446.4% in the 1st quarter. AQR Capital Management LLC now owns 90,968 shares of the technology company’s stock valued at $3,266,000 after acquiring an additional 74,320 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Innodata by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company’s stock valued at $577,000 after acquiring an additional 711 shares in the last quarter. Millennium Management LLC grew its position in Innodata by 30.7% in the 1st quarter. Millennium Management LLC now owns 142,608 shares of the technology company’s stock valued at $5,120,000 after acquiring an additional 33,473 shares in the last quarter. JPMorgan Chase & Co. grew its position in Innodata by 16.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 20,375 shares of the technology company’s stock valued at $1,044,000 after acquiring an additional 2,816 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Innodata by 1,527.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,422 shares of the technology company’s stock valued at $483,000 after acquiring an additional 8,843 shares in the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

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.