Stock Traders Purchase High Volume of Call Options on Innodata (NASDAQ:INOD)

Innodata Inc. (NASDAQ:INOD) was the target of unusually large options trading on Friday. Traders purchased 13,935 call options on the company. This represents an increase of approximately 444% compared to the average daily volume of 2,560 call options.

Innodata Trading Up 13.4 %

Shares of NASDAQ:INOD opened at $61.89 on Friday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 104.90 and a beta of 2.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50-day simple moving average is $41.05 and its two-hundred day simple moving average is $29.81. Innodata has a 52-week low of $5.46 and a 52-week high of $71.00.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.20. The business had revenue of $59.18 million for the quarter, compared to analysts’ expectations of $53.01 million. Innodata had a return on equity of 44.38% and a net margin of 14.57%. Analysts expect that Innodata will post 0.62 EPS for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Nauman Sabeeh Toor sold 110,207 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $44.00, for a total value of $4,849,108.00. Following the sale, the director now directly owns 209,194 shares of the company’s stock, valued at approximately $9,204,536. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Louise C. Forlenza sold 4,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.10, for a total value of $180,400.00. Following the completion of the sale, the director now directly owns 8,278 shares in the company, valued at approximately $373,337.80. This represents a 32.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 559,806 shares of company stock worth $25,353,904. 15.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of INOD. Private Advisor Group LLC boosted its position in Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after purchasing an additional 2,207 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Innodata in the third quarter worth about $311,000. Los Angeles Capital Management LLC bought a new position in shares of Innodata in the third quarter worth about $330,000. Charles Schwab Investment Management Inc. raised its stake in shares of Innodata by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock worth $1,291,000 after buying an additional 1,843 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Innodata by 38.5% in the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after buying an additional 3,739 shares during the period. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.