Innodata Sees Unusually Large Options Volume (NASDAQ:INOD)

Innodata Inc. (NASDAQ:INOD) was the target of unusually large options trading activity on Friday. Traders purchased 13,935 call options on the stock. This is an increase of 444% compared to the typical daily volume of 2,560 call options.

Innodata Stock Performance

Shares of Innodata stock traded up $13.83 on Friday, hitting $68.39. The stock had a trading volume of 3,502,274 shares, compared to its average volume of 1,655,662. The company’s 50 day moving average price is $41.05 and its 200 day moving average price is $29.81. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 114.19 and a beta of 2.57. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata has a 52-week low of $5.46 and a 52-week high of $70.15.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.20. Innodata had a net margin of 14.57% and a return on equity of 44.38%. The company 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 will post 0.62 EPS for the current year.

Insider Transactions at Innodata

In other news, COO Ashok Mishra sold 58,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total value of $2,630,745.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $44.00, for a total value of $4,849,108.00. Following the transaction, the director now owns 209,194 shares in the company, valued at $9,204,536. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 559,806 shares of company stock valued at $25,353,904 in the last ninety days. 15.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Innodata

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP purchased a new stake in Innodata during the 4th quarter worth about $29,000. USA Financial Formulas acquired a new stake in shares of Innodata during the 4th quarter worth about $36,000. Meeder Asset Management Inc. purchased a new stake in shares of Innodata during the fourth quarter worth about $36,000. AlphaQuest LLC raised its position in shares of Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after buying an additional 456 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Innodata in the fourth quarter valued at approximately $150,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INOD has been the subject of a number of research reports. Wedbush began 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. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. BWS Financial upped their target price on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of Innodata in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.20.

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.