Innodata (NASDAQ:INOD) Trading 7.6% Higher - What's Next?

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s stock price rose 7.6% during mid-day trading on Monday . The company traded as high as $43.90 and last traded at $42.46. Approximately 1,222,086 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 1,377,017 shares. The stock had previously closed at $39.47.

Wall Street Analyst Weigh In

INOD has been the subject of several recent research reports. Wedbush reduced their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Maxim Group lifted their target price on Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, BWS Financial increased their price target 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Innodata currently has an average rating of "Moderate Buy" and an average target price of $55.00.

Innodata Price Performance

The stock has a 50-day moving average price of $36.81 and a two-hundred day moving average price of $40.88. 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 stock has a market cap of $1.63 billion, a price-to-earnings ratio of 60.27 and a beta of 2.65.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. The business had revenue of $58.34 million for the quarter, compared to analyst estimates of $57.64 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business's revenue was up 120.1% compared to the same quarter last year. As a group, equities research analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Institutional Trading of Innodata

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of Innodata by 2.0% in the fourth quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock worth $466,000 after purchasing an additional 232 shares during the last quarter. NewEdge Advisors LLC raised its position in Innodata by 2.7% during the 4th quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company's stock worth $447,000 after buying an additional 300 shares during the last quarter. AlphaQuest LLC lifted its stake in Innodata by 79.4% during 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Innodata by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company's stock valued at $608,000 after acquiring an additional 533 shares during the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of Innodata in the fourth quarter worth $29,000. Institutional investors and hedge funds 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.