Innodata (NASDAQ:INOD) Trading Down 9% - What's Next?

Innodata Inc. (NASDAQ:INOD - Get Free Report) dropped 9% during mid-day trading on Monday . The company traded as low as $41.28 and last traded at $41.30. Approximately 377,573 shares were traded during trading, a decline of 55% from the average daily volume of 847,683 shares. The stock had previously closed at $45.36.

Analysts Set New Price Targets

Several brokerages have recently weighed in on INOD. Chardan Capital reiterated a "buy" rating and set a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. Craig Hallum started coverage on shares of Innodata in a report on Tuesday, September 17th. They set a "buy" rating and a $23.00 price objective for the company. Wedbush assumed coverage on Innodata in a research note on Thursday, December 19th. They set an "outperform" rating and a $48.00 price objective on the stock. StockNews.com upgraded Innodata from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Finally, BWS Financial lifted their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, November 8th. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.20.

Innodata Stock Performance

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.22 billion, a P/E ratio of 71.34 and a beta of 2.56. The stock has a fifty day simple moving average of $36.19 and a 200-day simple moving average of $23.42.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new position in shares of Innodata during the 3rd quarter valued at $311,000. Los Angeles Capital Management LLC bought a new position in shares of Innodata during the 3rd quarter valued at approximately $330,000. State Street Corp increased its position in Innodata by 1.8% in the third quarter. State Street Corp now owns 537,301 shares of the technology company's stock worth $9,011,000 after buying an additional 9,408 shares during the last quarter. Rathbones Group PLC bought a new stake in Innodata in the 2nd quarter valued at about $916,000. Finally, Centiva Capital LP bought a new position in Innodata in the 3rd quarter worth approximately $318,000. Institutional investors and hedge funds own 30.75% of the company's stock.

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.