Innodata (NASDAQ:INOD) Trading Down 16.3% - What's Next?

Innodata Inc. (NASDAQ:INOD - Get Free Report) shares dropped 16.3% during trading on Friday . The stock traded as low as $28.56 and last traded at $27.91. Approximately 1,062,084 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 1,219,151 shares. The stock had previously closed at $33.33.

Wall Street Analyst Weigh In

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

Innodata Trading Up 15.6 %

The stock's fifty day simple moving average is $44.94 and its 200-day simple moving average is $36.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $1.16 billion, a PE ratio of 43.66 and a beta of 2.66.

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Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.20. The company had revenue of $59.18 million during 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%. On average, sell-side analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Ashok Mishra sold 48,650 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the sale, the chief operating officer now owns 60,000 shares in the company, valued at $3,904,200. This represents a 44.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the transaction, the chief financial officer now owns 18,000 shares of the company's stock, valued at $1,171,620. This represents a 62.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,427 shares of company stock worth $17,790,794. 15.23% of the stock is owned by company insiders.

Institutional Trading of Innodata

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC purchased a new stake in Innodata in the 4th quarter worth approximately $402,000. Principal Financial Group Inc. acquired a new stake in Innodata during the third quarter valued at $311,000. Geode Capital Management LLC increased its holdings in Innodata by 2.3% in the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock valued at $10,294,000 after buying an additional 13,609 shares in the last quarter. Silverleafe Capital Partners LLC purchased a new stake in shares of Innodata during the 4th quarter worth about $913,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Innodata during the 4th quarter valued at about $283,000. 30.75% of the stock is owned by institutional investors and hedge funds.

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.