Innodata (NASDAQ:INOD) Trading Up 8.3% – Here’s Why

Innodata Inc. (NASDAQ:INOD) was up 8.3% during trading on Monday . The stock traded as high as $54.36 and last traded at $55.7540. Approximately 159,632 shares traded hands during trading, a decline of 93% from the average daily volume of 2,139,653 shares. The stock had previously closed at $51.46.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INOD. Zacks Research raised Innodata from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Innodata in a research note on Monday, November 17th. BWS Financial reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Innodata in a research note on Tuesday, November 11th. Finally, Wedbush lifted their price objective on shares of Innodata from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $80.00.

Innodata Stock Up 10.6%

The stock’s fifty day moving average is $72.21 and its two-hundred day moving average is $54.11. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.81 billion, a PE ratio of 45.96 and a beta of 2.90.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The business had revenue of $62.55 million for the quarter, compared to analyst estimates of $59.78 million. The business’s quarterly revenue was up 19.8% on a year-over-year basis. As a group, analysts predict that Innodata Inc. will post 0.81 EPS for the current year.

Insider Buying and Selling at Innodata

In other news, COO Ashok Mishra sold 200,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $61.39, for a total transaction of $12,278,000.00. Following the transaction, the chief operating officer owned 60,000 shares of the company’s stock, valued at $3,683,400. This represents a 76.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Louise C. Forlenza sold 8,278 shares of Innodata stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $65.00, for a total value of $538,070.00. Following the completion of the sale, the director directly owned 3,943 shares of the company’s stock, valued at approximately $256,295. This trade represents a 67.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 236,372 shares of company stock worth $14,572,507. Corporate insiders own 12.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INOD. Farther Finance Advisors LLC bought a new stake in Innodata during the 2nd quarter valued at $36,000. Global Retirement Partners LLC purchased a new stake in Innodata during the 3rd quarter worth about $50,000. Goodman Advisory Group LLC bought a new position in Innodata in the 3rd quarter worth about $52,000. Toth Financial Advisory Corp grew its holdings in Innodata by 40.2% during the 2nd quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company’s stock valued at $59,000 after buying an additional 330 shares in the last quarter. Finally, Silver Oak Securities Incorporated bought a new stake in shares of Innodata during the third quarter valued at about $60,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

About Innodata

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.