Innodata (NASDAQ:INOD) Trading Up 7.8% - Time to Buy?

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) traded up 7.8% on Tuesday . The stock traded as high as $39.56 and last traded at $39.34. 896,867 shares were traded during mid-day trading, a decline of 33% from the average session volume of 1,342,857 shares. The stock had previously closed at $36.48.

Analysts Set New Price Targets

Several brokerages have commented on INOD. BWS Financial raised their price objective on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Wedbush reduced their price objective on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, Maxim Group increased their price target on shares of Innodata from $54.00 to $75.00 and gave the stock 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Innodata Stock Performance

The firm's 50-day moving average price is $36.71 and its two-hundred day moving average price is $40.85. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 46.74 and a beta of 2.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. The company 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% on a year-over-year basis. On average, analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insider Activity

In related news, COO Ashok Mishra sold 48,650 shares of Innodata stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the transaction, the chief operating officer now owns 60,000 shares in the company, valued at $3,904,200. This trade represents a 44.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the sale, the chief financial officer now owns 18,000 shares in the company, valued at $1,171,620. This represents a 62.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,427 shares of company stock valued at $17,790,794 in the last ninety days. Company insiders own 12.20% of the company's stock.

Hedge Funds Weigh In On Innodata

Large investors have recently made changes to their positions in the company. Axiom Investors LLC DE bought a new stake in Innodata in the 1st quarter valued at approximately $1,532,000. Scientech Research LLC increased its position in Innodata by 215.6% during the 1st quarter. Scientech Research LLC now owns 33,307 shares of the technology company's stock worth $1,196,000 after purchasing an additional 22,755 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Innodata by 30.7% during the first quarter. Millennium Management LLC now owns 142,608 shares of the technology company's stock worth $5,120,000 after buying an additional 33,473 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Innodata by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company's stock valued at $577,000 after purchasing an additional 711 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Innodata by 446.4% during the 1st quarter. AQR Capital Management LLC now owns 90,968 shares of the technology company's stock worth $3,266,000 after buying an additional 74,320 shares during the period. 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.

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