Innodata (NASDAQ:INOD) Trading Up 9.8% – Time to Buy?

Innodata Inc. (NASDAQ:INOD) was up 9.8% during mid-day trading on Thursday . The stock traded as high as $50.45 and last traded at $48.16. Approximately 964,799 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 1,225,125 shares. The stock had previously closed at $43.84.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. BWS Financial upped their target price on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Chardan Capital reaffirmed a “buy” rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Finally, Wedbush began coverage on shares of Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price for the company. One 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 a consensus price target of $38.20.

Innodata Trading Up 13.8 %

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 business’s 50 day moving average price is $39.30 and its two-hundred day moving average price is $28.34. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 84.79 and a beta of 2.57.

Insider Activity

In related news, CFO Marissa B. Espineli sold 38,333 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $47.17, for a total transaction of $1,808,167.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nauman Sabeeh Toor sold 200,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $45.37, for a total transaction of $9,074,000.00. Following the sale, the director now directly owns 319,401 shares of the company’s stock, valued at approximately $14,491,223.37. This represents a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 985,083 shares of company stock worth $44,861,870 over the last 90 days. 15.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On Innodata

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Innodata by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock valued at $64,802,000 after buying an additional 117,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Innodata by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after purchasing an additional 13,609 shares during the last quarter. State Street Corp grew its holdings in Innodata by 1.8% during the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company’s stock worth $9,011,000 after acquiring an additional 9,408 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Innodata by 2,038.4% during the 4th quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company’s stock worth $12,176,000 after acquiring an additional 293,687 shares during the last quarter. Finally, Trexquant Investment LP grew its holdings in Innodata by 222.8% during the 4th quarter. Trexquant Investment LP now owns 300,488 shares of the technology company’s stock worth $11,875,000 after acquiring an additional 207,409 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.