Innodata (NASDAQ:INOD) Trading Down 4.2% - Should You Sell?

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s share price traded down 4.2% on Monday . The company traded as low as $48.10 and last traded at $49.07. 682,715 shares changed hands during trading, a decline of 52% from the average session volume of 1,419,114 shares. The stock had previously closed at $51.23.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. BWS Financial upped their target price on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Maxim Group upped their price target on Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Wedbush reduced their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Innodata Stock Performance

The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $37.78 and a 200-day moving average of $40.92. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 49.91 and a beta of 2.65.

Innodata (NASDAQ:INOD - Get Free Report) last released its 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. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The firm had revenue of $58.34 million for the quarter, compared to the consensus estimate of $57.64 million. The firm's revenue was up 120.1% on a year-over-year basis. As a group, sell-side analysts predict that Innodata Inc. will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Innodata

Hedge funds have recently made changes to their positions in the company. Northern Trust Corp increased its position in shares of Innodata by 9.9% in the 4th quarter. Northern Trust Corp now owns 252,753 shares of the technology company's stock valued at $9,989,000 after acquiring an additional 22,808 shares during the period. Strong Tower Advisory Services acquired a new position in shares of Innodata in the 1st quarter valued at $835,000. Palisades Investment Partners LLC grew its position in Innodata by 6.1% during the 4th quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company's stock worth $14,569,000 after purchasing an additional 21,093 shares during the period. Vanguard Group Inc. grew its position in Innodata by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock worth $64,802,000 after purchasing an additional 117,000 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in Innodata by 1,718.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock worth $37,331,000 after purchasing an additional 892,663 shares during the period. 30.75% of the stock is owned by institutional investors and hedge funds.

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.