Innodata Inc. (NASDAQ:INOD) Short Interest Down 14.6% in February

Innodata Inc. (NASDAQ:INOD - Get Free Report) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 3,870,000 shares, a decrease of 14.6% from the February 13th total of 4,530,000 shares. Based on an average trading volume of 2,090,000 shares, the short-interest ratio is currently 1.9 days. Currently, 15.7% of the shares of the stock are short sold.

Insider Transactions at Innodata

In related news, COO Ashok Mishra sold 48,650 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the sale, the chief operating officer now directly owns 60,000 shares in the company, valued at $3,904,200. This represents a 44.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of Innodata 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 completion of the transaction, the director now owns 12,417 shares in the company, valued at approximately $799,654.80. This represents a 94.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,427 shares of company stock valued at $17,790,794. Company insiders own 15.23% of the company's stock.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP acquired a new stake in shares of Innodata in the 4th quarter valued at about $29,000. USA Financial Formulas acquired a new stake in Innodata in the 4th quarter valued at $36,000. Meeder Asset Management Inc. bought a new stake in Innodata during the 4th quarter valued at $36,000. AlphaQuest LLC raised its holdings in Innodata by 79.4% during the fourth 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. Finally, SBI Securities Co. Ltd. bought a new position in shares of Innodata in the fourth quarter valued at $150,000. 30.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Maxim Group boosted their price target on Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Chardan Capital reissued a "buy" rating and issued a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. BWS Financial raised their target price on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Wedbush assumed coverage on Innodata in a research report on Thursday, December 19th. They issued an "outperform" rating and a $48.00 price target on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Innodata has an average rating of "Moderate Buy" and an average price target of $53.00.

Innodata Trading Down 2.7 %

Shares of INOD stock traded down $1.17 during mid-day trading on Friday, hitting $41.82. The company's stock had a trading volume of 1,254,140 shares, compared to its average volume of 1,172,504. The company has a market cap of $1.31 billion, a PE ratio of 49.20 and a beta of 2.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The company's fifty day simple moving average is $44.85 and its 200-day simple moving average is $34.57. Innodata has a 52 week low of $5.46 and a 52 week high of $71.00.

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

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.