Innodata (NASDAQ:INOD) Stock Price Down 5.6% – Should You Sell?

Innodata Inc. (NASDAQ:INOD) traded down 5.6% on Friday . The company traded as low as $40.63 and last traded at $40.60. 180,312 shares were traded during mid-day trading, a decline of 84% from the average session volume of 1,161,265 shares. The stock had previously closed at $42.99.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wedbush assumed coverage on Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective for the company. Maxim Group boosted their price objective on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 21st. BWS Financial boosted their price objective on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Chardan Capital reissued a “buy” rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Innodata Price Performance

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 company has a 50-day moving average price of $44.73 and a 200-day moving average price of $34.27. The firm has a market capitalization of $1.31 billion, a PE ratio of 49.48 and a beta of 2.59.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data 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 business had revenue of $59.18 million for the quarter, compared to the consensus estimate of $53.01 million. Sell-side analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Insider Buying and Selling

In other news, COO Ashok Mishra sold 48,650 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the sale, the chief operating officer now owns 60,000 shares in the company, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 275,427 shares of company stock worth $17,790,794. 15.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Innodata

Large investors have recently modified their holdings of the stock. Allworth Financial LP acquired a new stake in shares of Innodata in the fourth quarter valued at about $29,000. USA Financial Formulas acquired a new stake in Innodata during the 4th quarter valued at approximately $36,000. Meeder Asset Management Inc. acquired a new stake in Innodata during the 4th quarter valued at approximately $36,000. AlphaQuest LLC grew its stake in Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after purchasing an additional 456 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Innodata during the 4th quarter valued at approximately $150,000. 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.