Innodata (NASDAQ:INOD) Trading Down 16.3% – What’s Next?

Shares of Innodata Inc. (NASDAQ:INOD) dropped 16.3% during trading on Friday . The company traded as low as $102.54 and last traded at $101.64. Approximately 1,293,561 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 1,613,140 shares. The stock had previously closed at $121.50.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INOD. BWS Financial restated a “top pick” rating and set a $110.00 price objective on shares of Innodata in a research report on Friday, April 10th. Weiss Ratings raised Innodata from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Wedbush raised their price target on Innodata from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wall Street Zen raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Innodata Trading Down 16.1%

The stock has a market capitalization of $3.33 billion, a P/E ratio of 91.86 and a beta of 2.83. The stock’s fifty day moving average price is $64.36 and its two-hundred day moving average price is $56.43. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.07.

Innodata (NASDAQ:INOD) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.34. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The business had revenue of $90.10 million during the quarter, compared to the consensus estimate of $76.47 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. Equities research analysts forecast that Innodata Inc. will post 1.14 EPS for the current year.

Insider Buying and Selling

In other Innodata news, CFO Marissa B. Espineli sold 19,667 shares of Innodata stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $105.88, for a total value of $2,082,341.96. Following the transaction, the chief financial officer directly owned 28,014 shares of the company’s stock, valued at $2,966,122.32. The trade was a 41.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ashok Mishra sold 38,666 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer owned 83,179 shares of the company’s stock, valued at $9,510,686.86. The trade was a 31.73% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,178,826 shares of company stock worth $112,016,456. Insiders own 11.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in Innodata by 7.7% during the 1st quarter. NewEdge Advisors LLC now owns 14,292 shares of the technology company’s stock valued at $552,000 after buying an additional 1,023 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in Innodata by 3.5% in the 1st quarter. Glenmede Trust Co. NA now owns 7,336 shares of the technology company’s stock worth $283,000 after acquiring an additional 248 shares during the last quarter. Bank of America Corp DE grew its holdings in Innodata by 156.3% in the 1st quarter. Bank of America Corp DE now owns 102,268 shares of the technology company’s stock worth $3,950,000 after acquiring an additional 62,361 shares during the last quarter. H&H International Investment LLC purchased a new position in shares of Innodata in the first quarter valued at about $386,000. Finally, Janus Henderson Group PLC increased its position in shares of Innodata by 13.8% in the first quarter. Janus Henderson Group PLC now owns 526,012 shares of the technology company’s stock valued at $20,315,000 after acquiring an additional 63,779 shares during the period. Institutional investors own 30.75% of the company’s stock.

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.