Innodata (NASDAQ:INOD) Shares Gap Down - Time to Sell?

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $37.08, but opened at $34.00. Innodata shares last traded at $35.11, with a volume of 251,650 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on INOD shares. StockNews.com raised Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Chardan Capital restated a "buy" rating and set a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Wedbush started coverage on Innodata in a research note on Thursday, December 19th. They issued an "outperform" rating and a $48.00 price target for the company. Finally, BWS Financial increased their price target on shares of Innodata from $30.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.20.

Innodata Stock Up 1.3 %

The firm has a 50-day moving average price of $39.15 and a two-hundred day moving average price of $27.47. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 67.48 and a beta of 2.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.28. The firm had revenue of $52.22 million during the quarter, compared to the consensus estimate of $35.47 million. Innodata had a return on equity of 44.38% and a net margin of 14.57%. During the same quarter in the prior year, the firm posted $0.01 EPS. As a group, sell-side analysts anticipate that Innodata Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at Innodata

In related news, 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 value of $2,027,500.00. Following the completion of the sale, the director now directly owns 25,262 shares in the company, valued at approximately $1,024,374.10. This trade represents a 66.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the business'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 value of $4,849,108.00. Following the transaction, the director now directly owns 209,194 shares in the company, valued at $9,204,536. The trade was 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 three months. Insiders own 15.23% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in shares of Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock worth $10,294,000 after acquiring an additional 13,609 shares during the period. State Street Corp lifted its holdings in Innodata by 1.8% during the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company's stock worth $9,011,000 after purchasing an additional 9,408 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Innodata by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company's stock valued at $1,291,000 after purchasing an additional 1,843 shares during the period. Bank of New York Mellon Corp grew its holdings in Innodata by 30.7% in the 4th quarter. Bank of New York Mellon Corp now owns 72,226 shares of the technology company's stock valued at $2,854,000 after buying an additional 16,961 shares in the last quarter. Finally, Barclays PLC increased its position in Innodata by 324.3% during the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company's stock worth $647,000 after buying an additional 29,470 shares during the period. 30.75% of the stock is owned by institutional investors.

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.