Innodata (NASDAQ:INOD) Shares Gap Up – What’s Next?

Shares of Innodata Inc. (NASDAQ:INOD) gapped up before the market opened on Wednesday . The stock had previously closed at $41.88, but opened at $44.96. Innodata shares last traded at $43.61, with a volume of 463,130 shares.

Wall Street Analyst Weigh In

Several equities analysts recently commented on INOD shares. Chardan Capital reiterated a “buy” rating and issued a $45.00 target price on shares of Innodata in a research note on Friday, December 13th. Wedbush initiated coverage on shares of Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective on the stock. Maxim Group raised their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, BWS Financial lifted their price target on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Innodata currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Innodata Trading Down 7.4 %

The business’s 50-day simple moving average is $44.30 and its two-hundred day simple moving average is $33.35. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 50.75 and a beta of 2.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The firm had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. On average, research analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Activity at Innodata

In related news, Director Nauman Sabeeh Toor sold 110,207 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the completion of the sale, the director now directly owns 209,194 shares of the company’s stock, valued at approximately $9,204,536. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the transaction, the chief operating officer now owns 60,000 shares in the company, valued at $3,904,200. This represents a 44.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 385,634 shares of company stock worth $22,639,902. 15.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Palisades Investment Partners LLC raised its position in shares of Innodata by 6.1% in the 4th quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company’s stock valued at $14,569,000 after purchasing an additional 21,093 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Innodata in the fourth quarter worth $5,282,000. State of Wyoming acquired a new stake in Innodata in the fourth quarter valued at $250,000. ProShare Advisors LLC bought a new position in Innodata during the 4th quarter valued at $301,000. Finally, Nuveen Asset Management LLC grew its holdings in Innodata by 20.6% during the 4th quarter. Nuveen Asset Management LLC now owns 312,639 shares of the technology company’s stock worth $12,355,000 after acquiring an additional 53,376 shares in the last quarter. Hedge funds and other institutional investors 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.