Harvest Fund Management Co. Ltd Buys New Stake in Innodata Inc. (NASDAQ:INOD)

Harvest Fund Management Co. Ltd purchased a new stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,586 shares of the technology company's stock, valued at approximately $569,000. Harvest Fund Management Co. Ltd owned approximately 0.05% of Innodata as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in shares of Innodata in the 4th quarter worth $29,000. USA Financial Formulas bought a new stake in Innodata in the 4th quarter worth about $36,000. AlphaQuest LLC raised its position in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after buying an additional 456 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Innodata in the 4th quarter worth about $150,000. Finally, Spire Wealth Management bought a new position in Innodata during the 4th quarter valued at about $166,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Innodata

In related news, CFO Marissa B. Espineli sold 30,000 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the transaction, the chief financial officer now owns 18,000 shares of the company's stock, valued at approximately $1,171,620. This represents a 62.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the sale, the director now directly owns 12,417 shares in the company, valued at approximately $799,654.80. This represents a 94.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,427 shares of company stock valued at $17,790,794 over the last three months. Corporate insiders own 15.23% of the company's stock.

Remove Ads

Innodata Stock Performance

NASDAQ INOD traded down $1.77 on Tuesday, hitting $44.35. 1,697,266 shares of the company traded hands, compared to its average volume of 1,176,019. 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 business's 50 day moving average price is $45.10 and its 200-day moving average price is $34.92. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 52.18 and a beta of 2.59. Innodata Inc. has a 52-week low of $5.46 and a 52-week high of $71.00.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The company had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. Equities analysts expect that Innodata Inc. will post 0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

INOD has been the topic of several research reports. Chardan Capital restated a "buy" rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th. BWS Financial lifted their price objective on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Maxim Group raised their target price on Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Wedbush assumed coverage on shares of Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Innodata currently has a consensus rating of "Moderate Buy" and an average price target of $53.00.

Innodata 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.