Innodata Inc. (NASDAQ:INOD) Short Interest Down 44.6% in May

Innodata Inc. (NASDAQ:INOD) saw a large drop in short interest in May. As of May 15th, there was short interest totaling 2,913,509 shares, a drop of 44.6% from the April 30th total of 5,260,905 shares. Based on an average daily volume of 4,490,232 shares, the short-interest ratio is currently 0.6 days. Approximately 10.1% of the company’s stock are short sold.

Innodata Stock Performance

INOD traded down $1.10 during midday trading on Tuesday, reaching $114.22. The company’s stock had a trading volume of 1,598,097 shares, compared to its average volume of 1,604,666. Innodata has a twelve month low of $34.23 and a twelve month high of $118.45. The stock has a market cap of $3.73 billion, a P/E ratio of 102.90 and a beta of 2.82. The company has a fifty day simple moving average of $60.14 and a 200 day simple moving average of $55.25. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.07.

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

Wall Street Analyst Weigh In

INOD has been the topic of a number of analyst reports. Wall Street Zen raised Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Wedbush increased their price objective on Innodata from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Weiss Ratings lowered Innodata from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 19th. Finally, BWS Financial reissued a “top pick” rating and set a $110.00 price objective on shares of Innodata in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

Insider Transactions at Innodata

In other 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 $2,966,122.32. This trade represents a 41.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Louise C. Forlenza sold 18,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $94.47, for a total value of $1,700,460.00. Following the sale, the director directly owned 3,943 shares of the company’s stock, valued at $372,495.21. This trade represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,140,160 shares of company stock valued at $107,595,386 in the last three months. Corporate insiders own 11.80% of the company’s stock.

Institutional Trading of Innodata

Institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in Innodata during the fourth quarter worth $26,000. IFP Advisors Inc raised its position in Innodata by 1,567.5% in the 3rd quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock valued at $51,000 after purchasing an additional 627 shares during the last quarter. Goodman Advisory Group LLC bought a new position in Innodata in the 3rd quarter valued at $52,000. Bessemer Group Inc. bought a new position in Innodata in the 3rd quarter valued at $62,000. Finally, Farther Finance Advisors LLC raised its position in Innodata by 506.0% in the 4th quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock valued at $41,000 after purchasing an additional 673 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.