Innodata (NASDAQ:INOD) Shares Up 6.2% – What’s Next?

Shares of Innodata Inc. (NASDAQ:INOD) shot up 6.2% on Friday . The company traded as high as $38.50 and last traded at $38.34. 545,774 shares changed hands during trading, a decline of 57% from the average session volume of 1,268,322 shares. The stock had previously closed at $36.09.

Wall Street Analysts Forecast Growth

INOD has been the topic of a number of research analyst reports. BWS Financial upped their target price on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Chardan Capital reiterated a “buy” rating and set a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Wedbush started coverage on Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Innodata currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Innodata Stock Up 3.1 %

The company has a 50 day moving average of $39.49 and a 200-day moving average of $26.91. The company has a market capitalization of $1.08 billion, a P/E ratio of 62.87 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.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, November 7th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.28. Innodata had a return on equity of 44.38% and a net margin of 14.57%. The company had revenue of $52.22 million during the quarter, compared to the consensus estimate of $35.47 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. As a group, equities analysts anticipate that Innodata Inc. will post 0.62 EPS for the current year.

Insiders Place Their Bets

In other news, 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 value of $10,435,500.00. Following the completion of the transaction, the chief executive officer now owns 1,188,358 shares of the company’s stock, valued at approximately $55,116,044.04. This represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stewart R. Massey sold 50,000 shares of Innodata stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total value of $2,027,500.00. Following the sale, the director now owns 25,262 shares in the company, valued at $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,035,083 shares of company stock worth $46,889,370. 15.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Innodata

A number of hedge funds and other institutional investors have recently modified their holdings of INOD. Principal Financial Group Inc. boosted its stake in Innodata by 9.9% during the fourth quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company’s stock worth $806,000 after acquiring an additional 1,828 shares in the last quarter. Allworth Financial LP purchased a new position in shares of Innodata during the fourth quarter valued at approximately $29,000. Calamos Advisors LLC bought a new stake in shares of Innodata in the 4th quarter worth approximately $283,000. Jennison Associates LLC purchased a new stake in shares of Innodata in the fourth quarter worth $402,000. Finally, Spire Wealth Management purchased a new stake in Innodata during the 4th quarter valued at about $166,000. 30.75% of the stock is owned by hedge funds and other 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.