Innodata (NASDAQ:INOD) Sees Unusually-High Trading Volume on Earnings Beat

Innodata Inc. (NASDAQ:INOD) saw unusually-strong trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 4,674,120 shares changed hands during mid-day trading, an increase of 182% from the previous session’s volume of 1,655,662 shares.The stock last traded at $70.35 and had previously closed at $54.56.

The technology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.20. Innodata had a return on equity of 44.38% and a net margin of 14.57%. The firm had revenue of $59.18 million for the quarter, compared to analyst estimates of $53.01 million.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on INOD shares. Chardan Capital restated a “buy” rating and set a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. Wedbush initiated coverage on Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target on the stock. BWS Financial lifted their price target on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday. Maxim Group lifted their price target on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note on Friday. Finally, StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Innodata presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Insider Activity at Innodata

In other news, Director Nauman Sabeeh Toor sold 200,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $45.37, for a total value of $9,074,000.00. Following the transaction, the director now directly owns 319,401 shares of the company’s stock, valued at $14,491,223.37. The trade was a 38.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Louise C. Forlenza sold 4,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.10, for a total value of $180,400.00. Following the completion of the transaction, the director now directly owns 8,278 shares in the company, valued at $373,337.80. This represents a 32.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 559,806 shares of company stock valued at $25,353,904 in the last 90 days. 15.23% of the stock is owned by corporate insiders.

Institutional Trading of Innodata

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in Innodata in the 4th quarter valued at about $29,000. USA Financial Formulas bought a new stake in Innodata in the 4th quarter valued at about $36,000. Meeder Asset Management Inc. bought a new stake in Innodata in the 4th quarter valued at about $36,000. AlphaQuest LLC increased its position in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after buying an additional 456 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Innodata in the 4th quarter valued at about $150,000. 30.75% of the stock is owned by institutional investors.

Innodata Price Performance

The firm has a market capitalization of $1.79 billion, a P/E ratio of 104.90 and a beta of 2.57. The business has a 50-day moving average of $41.05 and a 200 day moving average of $29.81. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata Company Profile

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.