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

Innodata Inc. (NASDAQ:INOD - Get Free Report) shares 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.

Analyst Upgrades and Downgrades

Several equities analysts have commented on INOD shares. Chardan Capital reissued a "buy" rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th. BWS Financial boosted their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Maxim Group lifted their price target on 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 issued an "outperform" rating and a $48.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Innodata has an average rating of "Moderate Buy" and a consensus target price of $53.00.

Innodata Stock Performance

The company has a fifty day moving average of $45.25 and a two-hundred day moving average of $35.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $938.06 million, a price-to-earnings ratio of 35.26 and a beta of 2.59.

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

Insider Buying and Selling

In related news, CFO Marissa B. Espineli sold 30,000 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now owns 18,000 shares in the company, valued at $1,171,620. This represents a 62.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nauman Sabeeh Toor sold 196,777 shares of Innodata stock in a transaction that occurred 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 completion of the sale, the director now owns 12,417 shares of the company's stock, valued at approximately $799,654.80. The trade was a 94.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,427 shares of company stock valued at $17,790,794 in the last three months. Insiders own 15.23% of the company's stock.

Institutional Trading of Innodata

Several large investors have recently modified their holdings of the stock. Allworth Financial LP bought a new position in Innodata during the fourth quarter worth $29,000. USA Financial Formulas acquired a new position in shares of Innodata during the fourth quarter valued at about $36,000. Meeder Asset Management Inc. bought a new position in shares of Innodata during the 4th quarter worth about $36,000. AlphaQuest LLC grew its stake in shares of Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after buying an additional 456 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Innodata in the 4th quarter valued at about $150,000. 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.