Innodata (NASDAQ:INOD) Sees Large Volume Increase - What's Next?

Innodata Inc. (NASDAQ:INOD - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 1,173,423 shares were traded during trading, a decline of 14% from the previous session's volume of 1,357,419 shares.The stock last traded at $39.66 and had previously closed at $38.03.

Analyst Ratings Changes

A number of analysts have commented on INOD shares. Maxim Group boosted their price objective on Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, February 21st. BWS Financial upped their price objective on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Wedbush decreased their target price on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $55.00.

Innodata Stock Performance

The stock has a market capitalization of $1.41 billion, a P/E ratio of 52.09 and a beta of 2.75. 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 company has a 50 day simple moving average of $36.38 and a 200-day simple moving average of $40.80.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The company had revenue of $58.34 million for the quarter, compared to analyst estimates of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company's revenue for the quarter was up 120.1% on a year-over-year basis. On average, equities analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Institutional Investors Weigh In On Innodata

Institutional investors have recently made changes to their positions in the stock. Invesco Ltd. raised its stake in shares of Innodata by 2.0% during the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock valued at $466,000 after purchasing an additional 232 shares during the period. NewEdge Advisors LLC grew its holdings in Innodata by 2.7% during the 4th quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company's stock valued at $447,000 after buying an additional 300 shares in the last quarter. AlphaQuest LLC increased its position in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after buying an additional 456 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Innodata by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company's stock valued at $608,000 after buying an additional 533 shares during the period. Finally, Allworth Financial LP purchased a new stake in shares of Innodata in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

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.