Innodata (NASDAQ:INOD) Sees Large Volume Increase – What’s Next?

Innodata Inc. (NASDAQ:INOD) shares saw unusually-high trading volume on Monday . Approximately 1,052,644 shares changed hands during mid-day trading, an increase of 36% from the previous session’s volume of 774,561 shares.The stock last traded at $52.78 and had previously closed at $44.55.

Analysts Set New Price Targets

A number of research firms have recently commented on INOD. Craig Hallum began coverage on shares of Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target on the stock. BWS Financial boosted 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, StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.67.

Innodata Stock Down 12.3 %

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 $29.61 and its two-hundred day moving average is $20.87. The firm has a market capitalization of $1.11 billion, a P/E ratio of 64.88 and a beta of 2.55.

Insiders Place Their Bets

In other news, Director Stewart R. Massey sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the sale, the director now owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Marissa B. Espineli sold 38,333 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $47.17, for a total value of $1,808,167.61. The disclosure for this sale can be found here. Insiders sold a total of 924,876 shares of company stock valued at $42,040,262 over the last ninety days. 15.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of INOD. Barclays PLC grew its holdings in shares of 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Innodata by 2.3% during the third 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 shares of Innodata by 1.8% during the third quarter. State Street Corp now owns 537,301 shares of the technology company’s stock worth $9,011,000 after purchasing an additional 9,408 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Innodata during the third quarter worth about $206,000. Finally, Centiva Capital LP bought a new stake in shares of Innodata during the third quarter worth about $318,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.