Innodata (NASDAQ:INOD) Stock Price Down 7.2% – What’s Next?

Innodata Inc. (NASDAQ:INOD) shares traded down 7.2% on Monday . The stock traded as low as $58.82 and last traded at $59.5940. Approximately 369,533 shares were traded during trading, a decline of 76% from the average daily volume of 1,516,437 shares. The stock had previously closed at $64.21.

Analysts Set New Price Targets

Several brokerages recently weighed in on INOD. Zacks Research cut Innodata from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Wedbush lifted their target price on shares of Innodata from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Weiss Ratings downgraded shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 31st. Finally, BWS Financial reaffirmed a “top pick” rating and issued a $140.00 price objective on shares of Innodata in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.00.

Innodata Stock Down 9.1%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.73 and a current ratio of 1.73. The business has a 50 day simple moving average of $69.95 and a 200-day simple moving average of $63.02. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 44.20 and a beta of 2.92.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.21 by $0.20. Innodata had a net margin of 14.66% and a return on equity of 37.79%. The firm had revenue of $92.14 million for the quarter, compared to analyst estimates of $86.31 million. During the same quarter in the previous year, the company earned $0.20 EPS. The business’s revenue for the quarter was up 57.8% compared to the same quarter last year. On average, equities analysts expect that Innodata Inc. will post 1.18 EPS for the current year.

Insider Activity

In other Innodata news, CFO Marissa B. Espineli sold 19,667 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $105.88, for a total value of $2,082,341.96. Following the completion of the transaction, the chief financial officer owned 28,014 shares of the company’s stock, valued at $2,966,122.32. This trade represents a 41.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Ashok Mishra sold 38,666 shares of Innodata stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $114.34, for a total value of $4,421,070.44. Following the completion of the transaction, the chief operating officer owned 83,179 shares of the company’s stock, valued at approximately $9,510,686.86. This trade represents a 31.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 457,978 shares of company stock valued at $49,413,600. 11.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Innodata

A number of hedge funds have recently modified their holdings of the business. RFG Advisory LLC acquired a new stake in shares of Innodata in the fourth quarter worth approximately $5,750,000. Janus Henderson Group PLC boosted its stake in shares of Innodata by 13.8% during the 1st quarter. Janus Henderson Group PLC now owns 526,012 shares of the technology company’s stock valued at $20,315,000 after buying an additional 63,779 shares during the last quarter. Bleakley Financial Group LLC bought a new position in Innodata during the 4th quarter worth approximately $900,000. Next Century Growth Investors LLC grew its holdings in shares of Innodata by 107.5% during the fourth quarter. Next Century Growth Investors LLC now owns 365,835 shares of the technology company’s stock valued at $18,639,000 after purchasing an additional 189,488 shares during the last quarter. Finally, UBS Group AG grew its position in Innodata by 37.1% in the 4th quarter. UBS Group AG now owns 350,928 shares of the technology company’s stock worth $17,880,000 after purchasing an additional 95,002 shares during the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Innodata Company Profile

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.