Innodata (NASDAQ:INOD) Stock Price Down 2.8% - Here's What Happened

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) traded down 2.8% during mid-day trading on Monday . The stock traded as low as $35.91 and last traded at $36.04. 505,691 shares were traded during trading, a decline of 60% from the average session volume of 1,271,144 shares. The stock had previously closed at $37.09.

Analyst Ratings Changes

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

Innodata Stock Down 4.8 %

The firm's 50-day simple moving average is $44.38 and its 200 day simple moving average is $37.39. 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 stock has a market capitalization of $1.04 billion, a P/E ratio of 38.94 and a beta of 2.66.

Innodata (NASDAQ:INOD - Get Free Report) last released its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.20. The business 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, research analysts expect that Innodata Inc. will post 0.81 EPS for the current year.

Insider Activity

In other Innodata news, COO Ashok Mishra sold 48,650 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 60,000 shares of the company's stock, valued at $3,904,200. The trade was a 44.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 12,417 shares of the company's stock, valued at approximately $799,654.80. The trade was a 94.06 % decrease in their ownership of the stock. 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. 15.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Allworth Financial LP acquired a new position in shares of Innodata in the fourth quarter valued at $29,000. USA Financial Formulas bought a new stake in shares of Innodata during the 4th quarter worth about $36,000. Meeder Asset Management Inc. acquired a new position in Innodata in the 4th quarter valued at about $36,000. AlphaQuest LLC raised its holdings in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after acquiring an additional 456 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in Innodata during the fourth quarter worth approximately $150,000. 30.75% of the stock is owned by institutional investors and hedge funds.

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.