Innodata (NASDAQ:INOD) Shares Down 6.2% - What's Next?

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) dropped 6.2% during trading on Thursday . The stock traded as low as $48.40 and last traded at $50.47. Approximately 390,155 shares changed hands during trading, a decline of 82% from the average daily volume of 2,118,790 shares. The stock had previously closed at $53.80.

Analyst Upgrades and Downgrades

INOD has been the topic of several recent analyst reports. Wedbush initiated coverage on shares of Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price objective on the stock. BWS Financial raised their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, February 21st. StockNews.com upgraded shares of Innodata from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Chardan Capital reiterated a "buy" rating and issued a $45.00 price target on shares of Innodata in a report on Friday, December 13th. Finally, Maxim Group lifted their price target on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $53.00.

Innodata Stock Performance

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 has a market capitalization of $1.29 billion, a P/E ratio of 48.35 and a beta of 2.59. The business's fifty day simple moving average is $44.04 and its 200-day simple moving average is $33.03.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The business had revenue of $59.18 million during the quarter, compared to analysts' expectations of $53.01 million. As a group, equities analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the transaction, the chief financial officer now directly owns 18,000 shares of the company's stock, valued at $1,171,620. This trade represents a 62.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Ashok Mishra sold 48,650 shares of Innodata stock in a transaction dated 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 transaction, the chief operating officer now directly owns 60,000 shares of the company's stock, valued at approximately $3,904,200. This represents a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 385,634 shares of company stock valued at $22,639,902 in the last three months. Corporate insiders own 15.23% of the company's stock.

Hedge Funds Weigh In On Innodata

A number of large investors have recently made changes to their positions in INOD. Principal Financial Group Inc. purchased a new position in shares of Innodata during the 3rd quarter worth about $311,000. Los Angeles Capital Management LLC purchased a new position in shares of Innodata during the 3rd quarter worth about $330,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Innodata by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company's stock worth $1,291,000 after purchasing an additional 1,843 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock worth $225,000 after purchasing an additional 3,739 shares during the period. Finally, Centiva Capital LP purchased a new position in shares of Innodata during the 3rd quarter worth about $318,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.