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

Innodata Inc. (NASDAQ:INOD) gapped down prior to trading on Monday . The stock had previously closed at $29.97, but opened at $26.87. Innodata shares last traded at $27.18, with a volume of 325,122 shares traded.

Wall Street Analysts Forecast Growth

INOD has been the topic of a number of recent research reports. BWS Financial lifted their target price on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. 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. Maxim Group upped their price target 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. Finally, Wedbush assumed coverage on Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Innodata Price Performance

The stock has a market cap of $1.16 billion, a P/E ratio of 43.66 and a beta of 2.66. 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’s 50 day simple moving average is $44.94 and its 200 day simple moving average is $36.57.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $53.01 million. As a group, equities analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.

Insider Activity

In related news, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,427 shares of company stock worth $17,790,794 over the last three months. Corporate insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

A number of hedge funds have recently made changes to their positions in the business. Strong Tower Advisory Services bought a new position in shares of Innodata in the first quarter valued at about $835,000. Rhumbline Advisers grew its holdings in shares of Innodata by 3.5% during the 1st quarter. Rhumbline Advisers now owns 38,100 shares of the technology company’s stock worth $1,368,000 after purchasing an additional 1,281 shares in the last quarter. GAMMA Investing LLC increased its holdings in Innodata by 7,273.5% in the 1st quarter. GAMMA Investing LLC now owns 19,171 shares of the technology company’s stock valued at $6,880,000 after buying an additional 18,911 shares during the period. Wellington Management Group LLP acquired a new position in Innodata during the fourth quarter valued at approximately $11,283,000. Finally, Palisades Investment Partners LLC lifted its position in shares of Innodata by 6.1% during the 4th quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company’s stock worth $14,569,000 after buying an additional 21,093 shares during the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

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.