Innodata (NASDAQ:INOD) Shares Gap Down - What's Next?

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s stock price gapped down before the market opened 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.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wedbush assumed coverage on Innodata in a report on Thursday, December 19th. They issued an "outperform" rating and a $48.00 target price for the company. StockNews.com raised Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Chardan Capital reissued a "buy" rating and issued a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. Finally, 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 report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Innodata presently has an average rating of "Moderate Buy" and an average price target of $38.20.

Innodata Stock Up 7.7 %

The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The business's fifty day moving average price is $39.22 and its two-hundred day moving average price is $27.73. The firm has a market cap of $1.24 billion, a P/E ratio of 72.68 and a beta of 2.57.

Innodata (NASDAQ:INOD - Get Free Report) last announced 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. Innodata had a return on equity of 44.38% and a net margin of 14.57%. The company had revenue of $52.22 million during the quarter, compared to analysts' expectations of $35.47 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. As a group, equities research analysts anticipate that Innodata Inc. will post 0.62 EPS for the current year.

Insider Buying and Selling

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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stewart R. Massey sold 50,000 shares of the business's stock in a transaction that occurred on 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 sale, the director now 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. Insiders have sold 1,035,083 shares of company stock worth $46,889,370 in the last quarter. 15.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innodata

A number of institutional investors have recently bought and sold shares of the business. Allworth Financial LP bought a new position in shares of Innodata during the fourth quarter valued at $29,000. USA Financial Formulas bought a new stake in Innodata during the fourth quarter worth about $36,000. AlphaQuest LLC increased its holdings in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after buying an additional 456 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Innodata in the 4th quarter worth approximately $150,000. Finally, Spire Wealth Management bought a new stake in Innodata during the 4th quarter worth approximately $166,000. 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.