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

Innodata Inc. (NASDAQ:INOD)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $37.08, but opened at $34.00. Innodata shares last traded at $35.11, with a volume of 251,650 shares changing hands.

Wall Street Analysts Forecast Growth

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

Innodata Trading Down 1.9 %

The business’s 50 day moving average price is $39.34 and its 200-day moving average price is $27.12. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 61.86 and a beta of 2.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Innodata (NASDAQ:INOD) last posted its quarterly earnings results 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. The firm had revenue of $52.22 million during the quarter, compared to analyst estimates of $35.47 million. Innodata had a net margin of 14.57% and a return on equity of 44.38%. During the same quarter in the prior year, the business posted $0.01 earnings per share. On average, research analysts forecast that Innodata Inc. will post 0.62 EPS for the current year.

Insiders Place Their Bets

In other news, Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the sale, the director now directly owns 25,262 shares in the company, valued at approximately $1,024,374.10. This trade represents a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Ashok Mishra sold 92,726 shares of Innodata stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $43.16, for a total value of $4,002,054.16. The disclosure for this sale can be found here. Insiders sold 1,035,083 shares of company stock worth $46,889,370 over the last three months. 15.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Allworth Financial LP bought a new stake in shares of Innodata during the fourth quarter worth $29,000. USA Financial Formulas bought a new stake in Innodata during the 4th quarter worth about $36,000. Spire Wealth Management acquired a new position in Innodata during the 4th quarter valued at about $166,000. Point72 Asset Management L.P. bought a new stake in shares of Innodata during the third quarter worth approximately $206,000. Finally, BNP Paribas Financial Markets grew its holdings in Innodata by 38.5% during the 3rd 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. Institutional investors own 30.75% of the company’s stock.

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.