Innodata (NASDAQ:INOD) Shares Down 5.7% - What's Next?

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s stock price dropped 5.7% during mid-day trading on Monday . The stock traded as low as $46.60 and last traded at $46.45. Approximately 2,417,034 shares traded hands during trading, an increase of 47% from the average daily volume of 1,645,986 shares. The stock had previously closed at $49.28.

Analyst Ratings Changes

INOD has been the subject of several research analyst reports. Wedbush lowered their price target on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, May 9th. BWS Financial reiterated a "buy" rating and set a $74.00 price target on shares of Innodata in a report on Monday, June 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Innodata currently has an average rating of "Moderate Buy" and an average price target of $55.00.

Innodata Price Performance

The firm has a market capitalization of $1.47 billion, a PE ratio of 44.53 and a beta of 2.68. The business has a 50-day moving average of $45.38 and a 200 day moving average of $42.44. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.09.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. Innodata had a return on equity of 55.38% and a net margin of 17.53%. The business had revenue of $58.34 million for the quarter, compared to analysts' expectations of $57.64 million. The company's quarterly revenue was up 120.1% on a year-over-year basis. As a group, research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Institutional Trading of Innodata

A number of institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS lifted its holdings in Innodata by 22.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 6,500 shares of the technology company's stock worth $333,000 after purchasing an additional 1,200 shares in the last quarter. Alta Wealth Advisors LLC purchased a new stake in Innodata during the 2nd quarter worth about $604,000. 111 Capital purchased a new stake in Innodata during the 2nd quarter worth about $227,000. Pinnacle Investment Management Ltd bought a new position in shares of Innodata in the second quarter worth $77,000. Finally, Precision Wealth Strategies LLC increased its holdings in shares of Innodata by 55.5% in the second quarter. Precision Wealth Strategies LLC now owns 19,659 shares of the technology company's stock worth $1,007,000 after purchasing an additional 7,013 shares during the period. Hedge funds and other institutional investors own 30.75% of the company's stock.

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.