Innodata (NASDAQ:INOD) Stock Price Down 3.8% - Should You Sell?

Key Points

• Innodata's stock price fell **3.8%**, closing at **$76.45** after trading as low as **$77.03**, with trading volume down **71%** from average levels.
• Multiple analysts recently upgraded their ratings on Innodata, with price targets raised to as high as **$110.00** and an average rating of **"Buy,"** suggesting positive sentiment about the company's future performance.
• Innodata reported a **79.7%** increase in revenue year-over-year with earnings per share of **$0.20**, exceeding analyst expectations, indicating strong financial health for the company.

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s stock price traded down 3.8% on Monday . The stock traded as low as $77.03 and last traded at $76.45. 646,338 shares were traded during mid-day trading, a decline of 71% from the average session volume of 2,223,459 shares. The stock had previously closed at $79.44.

Analyst Ratings Changes

INOD has been the subject of a number of recent research reports. BWS Financial increased their price objective on shares of Innodata from $74.00 to $110.00 and gave the company a "buy" rating in a report on Friday, October 10th. Zacks Research raised Innodata from a "hold" rating to a "strong-buy" rating in a report on Monday, October 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Innodata in a research report on Tuesday, October 14th. Finally, Wedbush upped their target price on Innodata from $75.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $80.00.

Innodata Trading Down 4.5%

The stock has a market cap of $2.42 billion, a PE ratio of 61.20 and a beta of 2.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87. The company's 50-day moving average price is $60.33 and its 200 day moving average price is $48.54.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The company had revenue of $58.39 million during the quarter, compared to analyst estimates of $56.35 million. Innodata's revenue was up 79.7% compared to the same quarter last year. On average, sell-side analysts forecast that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC purchased a new stake in shares of Innodata in the 2nd quarter valued at approximately $36,000. Creative Financial Designs Inc. ADV acquired a new stake in Innodata in the 1st quarter valued at approximately $29,000. Toth Financial Advisory Corp raised its position in Innodata by 40.2% in the second quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company's stock valued at $59,000 after purchasing an additional 330 shares during the period. KBC Group NV acquired a new position in Innodata during the first quarter worth $52,000. Finally, Pinnacle Investment Management Ltd purchased a new position in shares of Innodata during the second quarter worth $77,000. 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.

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