Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 508,362 shares traded hands during trading, a decline of 54% from the previous session's volume of 1,100,448 shares.The stock last traded at $39.99 and had previously closed at $43.76.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. StockNews.com raised shares of Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Wedbush initiated coverage on Innodata in a research note on Thursday, December 19th. They issued an "outperform" rating and a $48.00 price target on the stock. Chardan Capital reissued a "buy" rating and set a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. Craig Hallum assumed coverage on shares of Innodata in a research note on Tuesday, September 17th. They issued a "buy" rating and a $23.00 target price on the stock. Finally, BWS Financial increased their price target on shares of Innodata from $30.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.20.
Read Our Latest Analysis on Innodata
Innodata Trading Down 10.6 %
The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The firm's fifty day moving average is $38.36 and its two-hundred day moving average is $24.37. The firm has a market cap of $1.13 billion, a P/E ratio of 66.27 and a beta of 2.59.
Insider Activity
In related news, Director Stewart R. Massey sold 50,000 shares of the company'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 sale, the director now directly owns 25,262 shares of the company's stock, valued at $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jack Abuhoff sold 225,000 shares of the stock in a transaction 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 trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,035,083 shares of company stock valued at $46,889,370. Corporate insiders own 15.23% of the company's stock.
Hedge Funds Weigh In On Innodata
Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new position in Innodata during the 3rd quarter valued at approximately $206,000. BNP Paribas Financial Markets increased its holdings in shares of Innodata by 38.5% during the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock valued at $225,000 after acquiring an additional 3,739 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Innodata by 17.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company's stock worth $242,000 after purchasing an additional 2,099 shares during the last quarter. Private Advisor Group LLC boosted its stake in Innodata by 17.4% in the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company's stock worth $250,000 after purchasing an additional 2,207 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Innodata during the 2nd quarter valued at about $285,000. Institutional investors own 30.75% of the company's stock.
About Innodata
(
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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.
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