Innodata (NASDAQ:INOD) Trading Up 8% – Still a Buy?

Innodata Inc. (NASDAQ:INOD) shares were up 8% during trading on Friday . The company traded as high as $42.28 and last traded at $43.01. Approximately 368,176 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,200,066 shares. The stock had previously closed at $39.81.

Analyst Ratings Changes

A number of research analysts recently commented on INOD shares. Chardan Capital reiterated a “buy” rating and issued a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. BWS Financial upped their price objective on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Wedbush assumed coverage on Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective on the stock. Finally, StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Innodata has an average rating of “Moderate Buy” and an average target price of $38.20.

Innodata Trading Up 6.9 %

The business has a 50-day simple moving average of $39.18 and a 200-day simple moving average of $27.56. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.23 billion, a PE ratio of 71.86 and a beta of 2.57.

Innodata (NASDAQ:INOD) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.28. Innodata had a net margin of 14.57% and a return on equity of 44.38%. The company had revenue of $52.22 million during the quarter, compared to the consensus estimate of $35.47 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. On average, analysts predict that Innodata Inc. will post 0.62 EPS for the current fiscal year.

Insider Transactions at Innodata

In related news, Director Louise C. Forlenza sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $45.10, for a total transaction of $180,400.00. Following the sale, the director now owns 8,278 shares in the company, valued at approximately $373,337.80. This trade represents a 32.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now owns 25,262 shares in the company, valued at approximately $1,024,374.10. This trade represents a 66.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,035,083 shares of company stock worth $46,889,370. Company insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

A number of hedge funds have recently bought and sold shares of INOD. Squarepoint Ops LLC acquired a new position in Innodata in the 2nd quarter worth $381,000. Compass Ion Advisors LLC boosted its holdings in shares of Innodata by 5.6% in the third quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock valued at $632,000 after acquiring an additional 2,011 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,207 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Innodata during the third quarter valued at approximately $311,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Innodata during the third quarter valued at approximately $330,000. Institutional investors and hedge funds 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.