Innodata (NASDAQ:INOD) Shares Down 5.6% – Here’s Why

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

Analyst Ratings Changes

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

Innodata Stock Performance

The stock has a market capitalization of $1.31 billion, a PE ratio of 49.20 and a beta of 2.59. The stock has a fifty day moving average of $44.85 and a 200-day moving average of $34.57. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15.

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

Insider Transactions at Innodata

In related news, CFO Marissa B. Espineli sold 30,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the transaction, the chief financial officer now owns 18,000 shares in the company, valued at $1,171,620. The trade was a 62.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 60,000 shares in the company, valued at $3,904,200. The trade was a 44.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,427 shares of company stock worth $17,790,794. Corporate insiders own 15.23% of the company’s stock.

Institutional Investors Weigh In On Innodata

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in Innodata in the 3rd quarter valued at approximately $311,000. Jennison Associates LLC purchased a new stake in Innodata in the 4th quarter valued at approximately $402,000. Geode Capital Management LLC lifted its stake in 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 in the last quarter. Silverleafe Capital Partners LLC purchased a new stake in Innodata in the 4th quarter valued at approximately $913,000. Finally, Calamos Advisors LLC purchased a new stake in Innodata in the 4th quarter valued at approximately $283,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.