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

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $40.28, but opened at $35.00. Innodata shares last traded at $34.46, with a volume of 810,297 shares.

Analysts Set New Price Targets

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

Innodata Stock Performance

The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 62.85 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. The company has a 50 day simple moving average of $39.34 and a 200 day simple moving average of $27.06.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.28. The company had revenue of $52.22 million for 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 last year, the business posted $0.01 EPS. As a group, equities research analysts forecast that Innodata Inc. will post 0.62 EPS for the current year.

Insider Activity at Innodata

In other Innodata news, COO Ashok Mishra sold 92,726 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total value of $4,002,054.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stewart R. Massey sold 50,000 shares of Innodata stock in a transaction on 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 sale, the director now directly owns 25,262 shares of the company's stock, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,035,083 shares of company stock worth $46,889,370 in the last 90 days. Corporate insiders own 15.23% of the company's stock.

Hedge Funds Weigh In On Innodata

Large investors have recently bought and sold shares of the stock. Allworth Financial LP purchased a new stake in shares of Innodata during the 4th quarter valued at $29,000. USA Financial Formulas bought a new stake in Innodata in the fourth quarter worth about $36,000. Principal Financial Group Inc. boosted its stake in Innodata by 9.9% in the fourth quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company's stock valued at $806,000 after acquiring an additional 1,828 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Innodata by 2.5% during 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 acquiring an additional 1,843 shares during the period. Finally, Compass Ion Advisors LLC raised its holdings in shares of Innodata by 5.6% in the 3rd quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company's stock worth $632,000 after purchasing an additional 2,011 shares during the period. 30.75% of the stock is currently 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.