Innodata (NASDAQ:INOD) Stock Price Down 5.6% – Should You Sell?

Innodata Inc. (NASDAQ:INOD) shares fell 5.6% during mid-day trading on Friday . The stock traded as low as $40.63 and last traded at $40.60. 180,312 shares changed hands during trading, a decline of 84% from the average session volume of 1,161,265 shares. The stock had previously closed at $42.99.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INOD. BWS Financial upped their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 21st. Chardan Capital restated a “buy” rating and set a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. Maxim Group upped their price objective on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Wedbush started coverage on shares of Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Innodata presently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Innodata Stock Down 2.6 %

The stock has a market cap of $1.31 billion, a PE ratio of 49.48 and a beta of 2.59. 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 business has a 50-day moving average price of $44.73 and a 200-day moving average price of $34.27.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The company had revenue of $59.18 million for the quarter, compared to analyst estimates of $53.01 million. As a group, analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.

Insider Transactions at Innodata

In related news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the completion of the sale, the director now directly owns 12,417 shares of the company’s stock, valued at approximately $799,654.80. This trade represents a 94.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total value of $3,165,655.50. Following the sale, the chief operating officer now directly owns 60,000 shares of the company’s stock, valued at $3,904,200. The trade was a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,427 shares of company stock worth $17,790,794 in the last quarter. Company insiders own 15.23% of the company’s stock.

Hedge Funds Weigh In On Innodata

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Innodata by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock valued at $64,802,000 after acquiring an additional 117,000 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in Innodata by 1,718.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock valued at $37,331,000 after acquiring an additional 892,663 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Innodata by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after buying an additional 13,609 shares during the period. State Street Corp boosted its stake in shares of Innodata by 1.8% in the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company’s stock valued at $9,011,000 after buying an additional 9,408 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of Innodata in the 4th quarter valued at about $16,713,000. 30.75% of the stock is owned by institutional investors and hedge funds.

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.