Innodata (NASDAQ:INOD) Shares Gap Down – Time to Sell?

Innodata Inc. (NASDAQ:INOD)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $37.08, but opened at $34.00. Innodata shares last traded at $35.11, with a volume of 251,650 shares changing hands.

Wall Street Analyst Weigh In

INOD has been the subject of several recent research reports. BWS Financial increased their price target on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Wedbush assumed coverage on shares of Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price on the stock. Finally, Chardan Capital reiterated a “buy” rating and issued a $45.00 price target on shares of Innodata in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.20.

Innodata Stock Up 5.5 %

The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 65.68 and a beta of 2.57. The firm has a fifty day simple moving average of $39.16 and a 200-day simple moving average of $27.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, November 7th. The technology company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.07 by $0.28. The business had revenue of $52.22 million during the quarter, compared to the consensus estimate of $35.47 million. Innodata had a net margin of 14.57% and a return on equity of 44.38%. During the same quarter in the previous year, the firm posted $0.01 EPS. As a group, sell-side analysts expect that Innodata Inc. will post 0.62 EPS for the current year.

Insider Activity

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 firm’s stock in a transaction dated 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. Over the last quarter, insiders have sold 1,035,083 shares of company stock valued at $46,889,370. 15.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Innodata

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP bought a new position in Innodata during the 4th quarter worth $29,000. USA Financial Formulas acquired a new stake in Innodata during the fourth quarter worth about $36,000. Principal Financial Group Inc. increased its holdings in Innodata by 9.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company’s stock valued at $806,000 after buying an additional 1,828 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Innodata by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock valued at $1,291,000 after buying an additional 1,843 shares in the last quarter. Finally, Compass Ion Advisors LLC lifted its holdings in shares of Innodata by 5.6% during the 3rd quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock worth $632,000 after acquiring an additional 2,011 shares during the period. 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.