Innodata (NASDAQ:INOD) Stock Price Down 9% – Here’s What Happened

Innodata Inc. (NASDAQ:INOD) traded down 9% during mid-day trading on Monday . The company traded as low as $41.28 and last traded at $41.30. 377,573 shares traded hands during trading, a decline of 55% from the average session volume of 847,683 shares. The stock had previously closed at $45.36.

Analyst Ratings Changes

A number of research firms recently commented on INOD. Craig Hallum initiated coverage on Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. Wedbush assumed 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 reissued a “buy” rating and set a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, BWS Financial upped their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Innodata Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50 day moving average price of $36.60 and a two-hundred day moving average price of $23.59. The stock has a market cap of $1.15 billion, a PE ratio of 66.98 and a beta of 2.56.

Insiders Place Their Bets

In related news, COO Ashok Mishra sold 92,726 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total value of $4,002,054.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the transaction, the director now directly owns 209,194 shares in the company, valued at approximately $9,204,536. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,035,083 shares of company stock valued at $46,889,370 in the last quarter. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in INOD. Deerfield Management Company L.P. Series C grew its stake in Innodata by 309.5% in the second quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock worth $1,658,000 after purchasing an additional 84,509 shares during the period. Rathbones Group PLC purchased a new stake in shares of Innodata in the second quarter worth $916,000. Marshall Wace LLP increased its holdings in shares of Innodata by 83.9% during the second quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock valued at $1,266,000 after acquiring an additional 38,954 shares in the last quarter. Barclays PLC boosted its stake in Innodata by 324.3% in the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after purchasing an additional 29,470 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Innodata during the 2nd quarter valued at about $381,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.