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

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Wedbush began coverage on shares of Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target for the company. BWS Financial increased their price target on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Chardan Capital reissued a “buy” rating and issued a $45.00 price target on shares of Innodata in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.20.

Innodata Stock Up 6.9 %

The stock has a market capitalization of $1.23 billion, a P/E ratio of 71.86 and a beta of 2.57. The firm’s fifty day moving average is $39.18 and its 200-day moving average is $27.56. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results 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 firm had revenue of $52.22 million during the quarter, compared to the consensus estimate of $35.47 million. During the same period last year, the firm posted $0.01 EPS. As a group, equities research analysts predict that Innodata Inc. will post 0.62 earnings per share for the current year.

Insider Buying and Selling at Innodata

In other news, CEO Jack Abuhoff sold 225,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total value of $10,435,500.00. Following the sale, the chief executive officer now owns 1,188,358 shares of the company’s stock, valued at $55,116,044.04. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Marissa B. Espineli sold 38,333 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $47.17, for a total transaction of $1,808,167.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,035,083 shares of company stock worth $46,889,370. 15.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Innodata

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its position in Innodata by 324.3% during the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after purchasing an additional 29,470 shares during the period. Squarepoint Ops LLC bought a new stake in Innodata during the second quarter worth about $381,000. Silverleafe Capital Partners LLC bought a new stake in Innodata during the fourth quarter worth about $913,000. Los Angeles Capital Management LLC bought a new stake in Innodata during the third quarter worth about $330,000. Finally, SG Americas Securities LLC bought a new stake in Innodata during the fourth quarter worth about $775,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.