Innodata (NASDAQ:INOD) Sees Strong Trading Volume - Should You Buy?

Innodata Inc. (NASDAQ:INOD - Get Free Report) shares saw strong trading volume on Thursday . 632,224 shares traded hands during mid-day trading, a decline of 23% from the previous session's volume of 823,164 shares.The stock last traded at $40.88 and had previously closed at $34.19.

Analysts Set New Price Targets

INOD has been the topic of a number of recent analyst reports. BWS Financial upped their price target on shares of Innodata from $30.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Wedbush started coverage on Innodata in a research report on Thursday. They issued an "outperform" rating and a $48.00 target price on the stock. StockNews.com raised Innodata from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Craig Hallum started coverage on Innodata in a report on Tuesday, September 17th. They issued a "buy" rating and a $23.00 price objective on the stock. Finally, Chardan Capital reaffirmed a "buy" rating and set a $45.00 target price on shares of Innodata in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Innodata presently has a consensus rating of "Moderate Buy" and an average price target of $38.20.

Innodata Price Performance

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 firm has a market cap of $1.15 billion, a PE ratio of 67.39 and a beta of 2.56. The stock has a 50 day simple moving average of $32.09 and a two-hundred day simple moving average of $21.79.

Insider Activity at Innodata

In related news, CEO Jack Abuhoff sold 225,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the sale, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stewart R. Massey sold 50,000 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now owns 25,262 shares in the company, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 924,876 shares of company stock worth $42,040,262. 15.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of INOD. nVerses Capital LLC purchased a new position in shares of Innodata in the 2nd quarter valued at about $27,000. Charles Schwab Investment Management Inc. increased its position in shares of Innodata by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company's stock valued at $1,291,000 after buying an additional 1,843 shares in the last quarter. Compass Ion Advisors LLC raised its stake in shares of Innodata by 5.6% during the 3rd quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company's stock worth $632,000 after buying an additional 2,011 shares during the period. Private Advisor Group LLC lifted its position in shares of Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company's stock valued at $250,000 after buying an additional 2,207 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Innodata by 38.5% in the 3rd 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 during the period. Institutional investors and hedge funds 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.