Innodata (NASDAQ:INOD) Shares Gap Down – Time to Sell?

Innodata Inc. (NASDAQ:INOD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $29.97, but opened at $26.87. Innodata shares last traded at $27.18, with a volume of 325,122 shares traded.

Analyst Ratings Changes

A number of research firms have weighed in on INOD. Wedbush began coverage on shares of Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective for the company. 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. Chardan Capital reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. Finally, Maxim Group lifted their target price on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Innodata Stock Performance

The firm has a market capitalization of $996.28 million, a PE ratio of 37.45 and a beta of 2.66. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The business’s 50 day simple moving average is $45.04 and its two-hundred day simple moving average is $36.35.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.20. The company had revenue of $59.18 million for 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%. Research analysts expect that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of Innodata stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the transaction, the director now owns 12,417 shares in the company, valued at $799,654.80. This trade represents a 94.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 18,000 shares of the company’s stock, valued at $1,171,620. This trade represents a 62.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,427 shares of company stock valued at $17,790,794. 15.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Allworth Financial LP purchased a new position in Innodata during the fourth quarter valued at approximately $29,000. USA Financial Formulas purchased a new position in shares of Innodata during the 4th quarter valued at $36,000. Meeder Asset Management Inc. purchased a new stake in Innodata in the 4th quarter worth $36,000. AlphaQuest LLC raised its holdings in Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after acquiring an additional 456 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Innodata during the fourth quarter valued at about $150,000. 30.75% of the stock is currently owned by 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.