Innodata (NASDAQ:INOD) Shares Gap Down - Here's Why

Innodata Inc. (NASDAQ:INOD - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $37.39, but opened at $35.50. Innodata shares last traded at $36.61, with a volume of 259,282 shares.

Wall Street Analyst Weigh In

INOD has been the subject of several research analyst reports. Maxim Group lifted 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. BWS Financial increased their price target on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Chardan Capital restated a "buy" rating and set a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. Finally, Wedbush initiated coverage on Innodata in a report on Thursday, December 19th. They issued an "outperform" rating and a $48.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $53.00.

Innodata Stock Up 3.6 %

The stock has a fifty day moving average price of $45.38 and a two-hundred day moving average price of $35.96. The company has a market cap of $1.18 billion, a P/E ratio of 44.53 and a beta of 2.59. 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 posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The firm had revenue of $59.18 million for the quarter, compared to the consensus estimate of $53.01 million. On average, research analysts expect that Innodata Inc. will post 0.81 EPS for the current year.

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Insider Transactions at Innodata

In other news, COO Ashok Mishra sold 48,650 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the transaction, the chief operating officer now directly owns 60,000 shares of the company's stock, valued at $3,904,200. This represents a 44.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the 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. The trade was a 94.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,427 shares of company stock worth $17,790,794 in the last 90 days. Insiders own 15.23% of the company's stock.

Institutional Investors Weigh In On Innodata

Several institutional investors have recently added to or reduced their stakes in INOD. Allworth Financial LP bought a new position in Innodata in the 4th quarter worth approximately $29,000. USA Financial Formulas purchased a new position in shares of Innodata in the fourth quarter valued at $36,000. Meeder Asset Management Inc. bought a new stake in shares of Innodata during the 4th quarter valued at $36,000. AlphaQuest LLC lifted its holdings in Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after purchasing an additional 456 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Innodata in the 4th quarter worth about $150,000. 30.75% of the stock is owned by hedge funds and other 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.