Innodata (NASDAQ:INOD) Shares Gap Up – What’s Next?

Innodata Inc. (NASDAQ:INOD)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $53.84, but opened at $58.03. Innodata shares last traded at $58.20, with a volume of 1,349,060 shares.

Analyst Ratings Changes

Several equities analysts have weighed in on INOD shares. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Wedbush began coverage on Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target on the stock. BWS Financial increased their price objective on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $45.00 target price on shares of Innodata in a research note on Friday, December 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.20.

Innodata Price Performance

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $39.83 and its two-hundred day moving average price is $29.14. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 98.46 and a beta of 2.57.

Insiders Place Their Bets

In other Innodata news, Director Nauman Sabeeh Toor sold 110,207 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $44.00, for a total value of $4,849,108.00. Following the completion of the sale, the director now directly owns 209,194 shares of the company’s stock, valued at $9,204,536. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jack Abuhoff sold 225,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the transaction, the chief executive officer now owns 1,188,358 shares in the company, valued at $55,116,044.04. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 892,357 shares of company stock valued at $40,859,816 in the last three months. Insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP acquired a new position in shares of Innodata during the 4th quarter valued at about $29,000. USA Financial Formulas bought a new stake in Innodata during the fourth quarter worth approximately $36,000. Meeder Asset Management Inc. acquired a new position in Innodata during the fourth quarter valued at approximately $36,000. AlphaQuest LLC raised its position in shares of Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after purchasing an additional 456 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Innodata in the fourth quarter valued at approximately $150,000. 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.