Innodata (NASDAQ:INOD) Shares Gap Down - Should You Sell?

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $35.96, but opened at $33.98. Innodata shares last traded at $33.38, with a volume of 262,326 shares.

Analyst Upgrades and Downgrades

INOD has been the topic of several research reports. Wedbush assumed coverage on shares of Innodata in a report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target on the stock. Chardan Capital reaffirmed a "buy" rating and set a $45.00 target price on shares of Innodata in a research note on Friday, December 13th. Craig Hallum started coverage on shares of Innodata in a report on Tuesday, September 17th. They set a "buy" rating and a $23.00 price target for the company. StockNews.com raised Innodata from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Finally, BWS Financial upped their target price on Innodata from $30.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.20.

Innodata Trading Up 8.5 %

The company has a market cap of $1.07 billion, a P/E ratio of 62.41 and a beta of 2.59. The firm's 50 day moving average is $40.39 and its two-hundred day moving average is $25.37. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15.

Insiders Place Their Bets

In other Innodata news, COO Ashok Mishra sold 92,726 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $43.16, for a total transaction of $4,002,054.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the completion of the transaction, the director now owns 25,262 shares in the company, valued at $1,024,374.10. This trade represents a 66.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,035,083 shares of company stock valued at $46,889,370. 15.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innodata

Large investors have recently modified their holdings of the company. USA Financial Formulas bought a new stake in Innodata during the fourth quarter valued at $36,000. Point72 Asset Management L.P. acquired a new position in shares of Innodata in the 3rd quarter valued at about $206,000. BNP Paribas Financial Markets boosted its position in shares of Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock valued at $225,000 after purchasing an additional 3,739 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Innodata by 17.1% during the third quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company's stock worth $242,000 after purchasing an additional 2,099 shares during the period. Finally, Private Advisor Group LLC increased its holdings in Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company's stock worth $250,000 after purchasing an additional 2,207 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.