Innodata (NASDAQ:INOD) Stock Price Down 8.5% - Should You Sell?

Innodata Inc. (NASDAQ:INOD - Get Free Report) shares fell 8.5% on Wednesday . The stock traded as low as $35.59 and last traded at $35.79. 540,900 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 1,366,769 shares. The stock had previously closed at $39.10.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on INOD shares. Wedbush started coverage on shares of Innodata in a research note on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target on the stock. Craig Hallum initiated coverage on shares of Innodata in a research report on Tuesday, September 17th. They set a "buy" rating and a $23.00 target price on the stock. Chardan Capital reiterated a "buy" rating and issued a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. BWS Financial boosted their price objective on Innodata from $30.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, StockNews.com raised Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.20.

Innodata Trading Down 6.0 %

The company's 50 day simple moving average is $38.71 and its 200-day simple moving average is $24.55. The firm has a market cap of $1.07 billion, a P/E ratio of 62.31 and a beta of 2.59. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15.

Insider Activity at Innodata

In other Innodata news, Director Stewart R. Massey sold 50,000 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the sale, the director now directly owns 25,262 shares of the company's stock, valued at $1,024,374.10. The trade was a 66.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the transaction, the director now directly owns 209,194 shares in the company, valued at approximately $9,204,536. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,035,083 shares of company stock worth $46,889,370 in the last quarter. 15.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in INOD. Principal Financial Group Inc. purchased a new position in Innodata during the third quarter valued at approximately $311,000. Los Angeles Capital Management LLC bought a new position in shares of Innodata in the 3rd quarter worth $330,000. Geode Capital Management LLC lifted its stake in shares of Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock worth $10,294,000 after purchasing an additional 13,609 shares during the last quarter. Barclays PLC boosted its position in Innodata by 324.3% during the third quarter. Barclays PLC now owns 38,557 shares of the technology company's stock valued at $647,000 after purchasing an additional 29,470 shares in the last quarter. Finally, Silverleafe Capital Partners LLC purchased a new position in Innodata in the fourth quarter valued at about $913,000. 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.