Innodata (NASDAQ:INOD) Shares Down 8.5% – What’s Next?

Shares of Innodata Inc. (NASDAQ:INOD) fell 8.5% during trading on Wednesday . The stock traded as low as $35.59 and last traded at $35.79. 540,900 shares were traded during trading, a decline of 60% from the average session volume of 1,366,769 shares. The stock had previously closed at $39.10.

Wall Street Analyst Weigh In

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

Innodata Stock Performance

The firm has a market cap of $1.09 billion, a P/E ratio of 63.81 and a beta of 2.59. 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 company’s 50-day moving average is $38.71 and its two-hundred day moving average is $24.55.

Insider Activity at Innodata

In related 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 transaction of $2,027,500.00. Following the transaction, the director now directly owns 25,262 shares in the company, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Ashok Mishra sold 69,218 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $47.13, for a total transaction of $3,262,244.34. The disclosure for this sale can be found here. Insiders have sold a total of 1,035,083 shares of company stock valued at $46,889,370 over the last 90 days. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new position in shares of Innodata in the 3rd quarter worth about $206,000. BNP Paribas Financial Markets raised its position in Innodata by 38.5% in the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after acquiring an additional 3,739 shares during the period. JPMorgan Chase & Co. boosted its stake in Innodata by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company’s stock valued at $242,000 after acquiring an additional 2,099 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,207 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Innodata during the 2nd quarter worth approximately $285,000. Institutional investors 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.