Innodata (NASDAQ:INOD) Shares Down 2.8% - Here's Why

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s stock price fell 2.8% during trading on Monday . The company traded as low as $35.91 and last traded at $36.04. 505,691 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 1,271,144 shares. The stock had previously closed at $37.09.

Analysts Set New Price Targets

INOD has been the subject of several recent analyst reports. BWS Financial upped their price objective on shares of Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Maxim Group boosted their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.00.

Innodata Trading Down 4.8 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The company's 50 day moving average is $44.19 and its 200 day moving average is $37.52. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 38.94 and a beta of 2.66.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The firm had revenue of $59.18 million for the quarter, compared to analyst estimates of $53.01 million. On average, research analysts forecast that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Innodata news, COO Ashok Mishra sold 48,650 shares of Innodata stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the transaction, the chief operating officer now directly owns 60,000 shares of the company's stock, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the sale, the director now directly owns 12,417 shares in the company, valued at $799,654.80. This represents a 94.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,427 shares of company stock worth $17,790,794 over the last 90 days. Corporate insiders own 15.23% of the company's stock.

Hedge Funds Weigh In On Innodata

Several institutional investors have recently bought and sold shares of the business. Allworth Financial LP bought a new position in Innodata in the fourth quarter valued at about $29,000. USA Financial Formulas acquired a new stake in shares of Innodata during the fourth quarter worth about $36,000. Meeder Asset Management Inc. bought a new position in Innodata in the fourth quarter valued at approximately $36,000. AlphaQuest LLC lifted its position in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after acquiring an additional 456 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Innodata during the 4th quarter worth approximately $150,000. Institutional investors own 30.75% of the company's stock.

Innodata Company Profile

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.