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 changed hands 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.

Analysts Set New Price Targets

Several research analysts have recently issued reports on INOD shares. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Chardan Capital reaffirmed a “buy” rating and issued a $45.00 target price on shares of Innodata in a research note on Friday, December 13th. Wedbush started coverage on shares of Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target on the stock. Finally, 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 research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Innodata presently has an average rating of “Moderate Buy” and an average price target of $38.20.

Innodata Stock Up 13.8 %

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 firm’s 50 day moving average is $39.30 and its two-hundred day moving average is $28.34. The firm has a market capitalization of $1.45 billion, a P/E ratio of 84.79 and a beta of 2.57.

Insiders Place Their Bets

In other news, CFO Marissa B. Espineli sold 38,333 shares of Innodata 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Louise C. Forlenza sold 4,000 shares of Innodata stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.10, for a total value of $180,400.00. Following the sale, the director now directly owns 8,278 shares of the company’s stock, valued at $373,337.80. This represents a 32.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 985,083 shares of company stock valued at $44,861,870 over the last ninety days. 15.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innodata

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