Innodata Inc. (NASDAQ:INOD - Get Free Report)'s share price was down 6.4% on Friday . The stock traded as low as $49.67 and last traded at $49.35. Approximately 1,246,075 shares traded hands during trading, a decline of 23% from the average daily volume of 1,612,986 shares. The stock had previously closed at $52.70.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on INOD shares. Wedbush lowered their target price on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. BWS Financial reaffirmed a "buy" rating and set a $74.00 price target on shares of Innodata in a research report on Monday, June 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.00.
Check Out Our Latest Analysis on INOD
Innodata Stock Down 5.7%
The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 2.36. The firm's 50-day moving average price is $43.10 and its 200 day moving average price is $42.03. The firm has a market cap of $1.58 billion, a P/E ratio of 47.64 and a beta of 2.68.
Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. Innodata had a return on equity of 55.38% and a net margin of 17.53%. The company had revenue of $58.34 million during 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. On average, equities research analysts expect that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Innodata
A number of institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in Innodata by 30.7% during the fourth quarter. Bank of New York Mellon Corp now owns 72,226 shares of the technology company's stock worth $2,854,000 after buying an additional 16,961 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Innodata during the fourth quarter worth $483,000. AlphaQuest LLC increased its position in Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after buying an additional 456 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in Innodata during the fourth quarter worth $2,328,000. Finally, Prosperity Wealth Management Inc. acquired a new position in Innodata during the fourth quarter worth $318,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.
Innodata Company Profile
(
Get Free Report)
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.
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