Innodata (NASDAQ:INOD) Shares Gap Down – Here’s What Happened

Shares of Innodata Inc. (NASDAQ:INOD) gapped down before the market opened on Monday . The stock had previously closed at $40.28, but opened at $35.00. Innodata shares last traded at $34.46, with a volume of 810,297 shares.

Analyst Ratings Changes

INOD has been the topic of several research reports. Wedbush assumed coverage on Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price on the stock. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Chardan Capital restated a “buy” rating and set a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. Finally, BWS Financial upped 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Innodata presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Innodata Stock Performance

The stock has a market cap of $983.97 million, a price-to-earnings ratio of 57.51 and a beta of 2.59. 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 stock’s 50-day moving average is $39.90 and its 200-day moving average is $26.79.

Innodata (NASDAQ:INOD) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.28. Innodata had a return on equity of 44.38% and a net margin of 14.57%. The business had revenue of $52.22 million for the quarter, compared to analysts’ expectations of $35.47 million. During the same quarter last year, the firm earned $0.01 earnings per share. Analysts anticipate that Innodata Inc. will post 0.62 EPS for the current fiscal year.

Insider Transactions at Innodata

In other news, Director Louise C. Forlenza sold 4,000 shares of Innodata stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.10, for a total value of $180,400.00. Following the transaction, the director now directly owns 8,278 shares of the company’s stock, valued at $373,337.80. The trade was a 32.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jack Abuhoff sold 225,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the sale, the chief executive officer now directly owns 1,188,358 shares of the company’s stock, valued at approximately $55,116,044.04. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,035,083 shares of company stock worth $46,889,370 in the last three months. Company insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of INOD. Calamos Advisors LLC acquired a new position in shares of Innodata during the fourth quarter worth about $283,000. Jennison Associates LLC purchased a new stake in shares of Innodata during the 4th quarter valued at about $402,000. Spire Wealth Management acquired a new position in Innodata during the 4th quarter worth approximately $166,000. Precision Wealth Strategies LLC purchased a new position in Innodata in the 4th quarter worth approximately $466,000. Finally, SG Americas Securities LLC acquired a new stake in Innodata in the fourth quarter valued at approximately $775,000. 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.