Innodata (NASDAQ:INOD) Sees Unusually-High Trading Volume – Still a Buy?

Innodata Inc. (NASDAQ:INOD) saw an uptick in trading volume on Wednesday . 431,802 shares changed hands during mid-day trading, a decline of 42% from the previous session’s volume of 741,043 shares.The stock last traded at $38.94 and had previously closed at $40.37.

Analyst Ratings Changes

Several equities analysts have recently issued reports on INOD shares. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. BWS Financial increased their price target on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Craig Hallum began coverage on shares of Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Innodata Trading Down 7.3 %

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 business’s fifty day simple moving average is $24.35 and its two-hundred day simple moving average is $18.79. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 62.71 and a beta of 2.30.

Insider Transactions at Innodata

In other Innodata news, COO Ashok Mishra sold 92,726 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jack Abuhoff sold 187,099 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.07, for a total transaction of $8,619,650.93. Following the completion of the transaction, the chief executive officer now directly owns 1,188,358 shares in the company, valued at $54,747,653.06. This represents a 13.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 666,376 shares of company stock worth $30,335,517 over the last ninety days. 15.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Innodata

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Innodata by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after acquiring an additional 28,173 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Innodata by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after buying an additional 982 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Innodata in the first quarter valued at $8,142,000. Bank of New York Mellon Corp boosted its position in Innodata by 19.1% in the second quarter. Bank of New York Mellon Corp now owns 78,057 shares of the technology company’s stock valued at $1,158,000 after buying an additional 12,515 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Innodata during the second quarter worth approximately $27,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.