Innodata (NASDAQ:INOD) Shares Down 7.5% - Should You Sell?

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) were down 7.5% during mid-day trading on Thursday . The company traded as low as $44.41 and last traded at $43.11. Approximately 172,217 shares changed hands during trading, a decline of 92% from the average daily volume of 2,109,964 shares. The stock had previously closed at $46.60.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Chardan Capital restated a "buy" rating and issued a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. StockNews.com raised shares of Innodata from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. BWS Financial boosted their target price on shares of Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Maxim Group raised their price target 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. Finally, Wedbush initiated coverage on Innodata in a research note on Thursday, December 19th. They set an "outperform" rating and a $48.00 price objective for the company. One research 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.com, Innodata presently has an average rating of "Moderate Buy" and a consensus price target of $53.00.

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Innodata Stock Performance

The company has a market cap of $1.36 billion, a price-to-earnings ratio of 50.59 and a beta of 2.59. The stock's fifty day simple moving average is $44.23 and its 200 day simple moving average is $33.28. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.20. The firm had revenue of $59.18 million for the quarter, compared to the consensus estimate of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. As a group, analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total value of $12,672,438.80. Following the transaction, the director now owns 12,417 shares of the company's stock, valued at $799,654.80. This represents a 94.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the transaction, the chief financial officer now owns 18,000 shares in the company, valued at approximately $1,171,620. This represents a 62.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,634 shares of company stock worth $22,639,902. Insiders own 15.23% of the company's stock.

Institutional Trading of Innodata

Several institutional investors have recently modified their holdings of the stock. Allworth Financial LP purchased a new position in shares of Innodata in the 4th quarter valued at $29,000. USA Financial Formulas acquired a new position in Innodata in the fourth quarter valued at $36,000. Meeder Asset Management Inc. acquired a new position in Innodata in the fourth quarter valued at $36,000. AlphaQuest LLC grew its holdings in shares of Innodata by 79.4% during the fourth 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 last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Innodata during the fourth quarter worth about $150,000. Hedge funds and other institutional investors 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.

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