Innodata (NASDAQ:INOD) Shares Down 4.6% – Here’s Why

Innodata Inc. (NASDAQ:INOD)’s share price traded down 4.6% on Friday . The company traded as low as $57.12 and last traded at $57.91. 238,007 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 1,266,103 shares. The stock had previously closed at $60.71.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research cut Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. BWS Financial upgraded Innodata from a “buy” rating to a “top pick” rating and set a $110.00 target price for the company in a research report on Monday, January 5th. Wedbush lifted their price target on Innodata from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings downgraded Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.67.

Innodata Price Performance

The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. The business’s 50-day simple moving average is $56.43 and its two-hundred day simple moving average is $58.21. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 61.50 and a beta of 2.43.

Innodata (NASDAQ:INOD) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Innodata had a net margin of 14.11% and a return on equity of 41.67%. The company had revenue of $62.55 million for the quarter, compared to analyst estimates of $59.78 million. Innodata’s quarterly revenue was up 19.8% on a year-over-year basis. As a group, research analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insider Activity at Innodata

In related news, Director Louise C. Forlenza sold 8,278 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $65.00, for a total transaction of $538,070.00. Following the completion of the sale, the director owned 3,943 shares of the company’s stock, valued at $256,295. This trade represents a 67.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Ashok Mishra sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $61.39, for a total value of $12,278,000.00. Following the completion of the transaction, the chief operating officer directly owned 60,000 shares in the company, valued at approximately $3,683,400. This trade represents a 76.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 236,372 shares of company stock valued at $14,572,507 in the last ninety days. 12.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Innodata

Large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC acquired a new position in shares of Innodata during the second quarter valued at about $36,000. Global Retirement Partners LLC bought a new stake in Innodata in the 3rd quarter valued at about $50,000. IFP Advisors Inc increased its position in Innodata by 1,567.5% in the 3rd quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock valued at $51,000 after buying an additional 627 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in Innodata during the 3rd quarter worth approximately $52,000. Finally, FNY Investment Advisers LLC boosted its holdings in Innodata by 2,675.0% in the fourth quarter. FNY Investment Advisers LLC now owns 1,030 shares of the technology company’s stock worth $52,000 after acquiring an additional 1,070 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

About Innodata

Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata’s platform enables clients to convert unstructured text, images and multimedia into high?quality, machine?readable formats that support search, analytics and AI model training.

The firm’s offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.