Innodata (NASDAQ:INOD) Shares Up 7.4% – Here’s Why

Innodata Inc. (NASDAQ:INOD) traded up 7.4% during mid-day trading on Monday . The stock traded as high as $45.25 and last traded at $44.14. 632,466 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 750,986 shares. The stock had previously closed at $41.08.

Analyst Ratings Changes

A number of research analysts recently weighed in on INOD shares. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Craig Hallum started coverage on shares of Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price on the stock. Finally, BWS Financial lifted their price target on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Innodata has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Innodata Stock Down 0.3 %

The stock’s 50-day moving average price is $26.86 and its two-hundred day moving average price is $19.78. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.17 billion, a P/E ratio of 68.44 and a beta of 2.56.

Insider Buying and Selling at Innodata

In other news, CEO Jack Abuhoff sold 225,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total value of $10,435,500.00. Following the sale, the chief executive officer now owns 1,188,358 shares of the company’s stock, valued at $55,116,044.04. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marissa B. Espineli sold 38,333 shares of the firm’s stock in a transaction that occurred on 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 ninety days, insiders sold 666,376 shares of company stock valued at $30,335,517. Company insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. purchased a new stake in shares of Innodata in the third quarter worth about $311,000. Los Angeles Capital Management LLC bought a new position in shares of Innodata in the third quarter worth $330,000. Vanguard Group Inc. raised its position in shares of Innodata by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after buying an additional 28,173 shares in the last quarter. Rathbones Group PLC bought a new stake in Innodata during the second quarter valued at $916,000. Finally, Price T Rowe Associates Inc. MD grew its position in Innodata by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after buying an additional 982 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.

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.