Innodata Inc. (NASDAQ:INOD - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as $55.45 and last traded at $52.90, with a volume of 1043849 shares changing hands. The stock had previously closed at $52.29.
Wall Street Analyst Weigh In
INOD has been the subject of a number of recent analyst reports. StockNews.com raised Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Chardan Capital restated a "buy" rating and issued a $45.00 price target on shares of Innodata in a research note on Friday, December 13th. Wedbush began coverage on shares of Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price objective on the stock. Finally, 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 report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.20.
Read Our Latest Stock Analysis on INOD
Innodata Stock Up 7.9 %
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 capitalization of $1.68 billion, a PE ratio of 98.46 and a beta of 2.57. The company has a fifty day moving average price of $39.83 and a 200-day moving average price of $29.14.
Insider Buying and Selling
In related news, COO Ashok Mishra sold 69,218 shares of Innodata stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $47.13, for a total value of $3,262,244.34. The transaction 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 company's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total value of $10,435,500.00. Following the sale, the chief executive officer now owns 1,188,358 shares in the company, valued at approximately $55,116,044.04. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 892,357 shares of company stock worth $40,859,816. Insiders own 15.23% of the company's stock.
Institutional Trading of Innodata
A number of institutional investors have recently bought and sold shares of INOD. Invesco Ltd. raised its stake in shares of Innodata by 2.0% in the fourth quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock valued at $466,000 after acquiring an additional 232 shares during the period. NewEdge Advisors LLC grew its holdings in Innodata by 2.7% during the 4th quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company's stock valued at $447,000 after purchasing an additional 300 shares during the last quarter. 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 purchasing an additional 456 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Innodata by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company's stock worth $608,000 after purchasing an additional 533 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in shares of Innodata during the fourth quarter valued at approximately $29,000. 30.75% of the stock is currently owned by institutional investors.
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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