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

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $53.84, but opened at $58.03. Innodata shares last traded at $58.20, with a volume of 1,349,060 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on INOD. Chardan Capital restated a "buy" rating and issued a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. Wedbush began coverage on shares of Innodata in a report on Thursday, December 19th. They issued an "outperform" rating and a $48.00 price objective on the stock. Maxim Group increased their price objective on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a report on Friday. BWS Financial increased their price objective on shares of Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a report on Friday. Finally, StockNews.com raised shares of Innodata from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $53.00.

Innodata Stock Performance

The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 104.90 and a beta of 2.57. 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's 50 day simple moving average is $41.05 and its 200 day simple moving average is $29.81.

Innodata (NASDAQ:INOD - Get Free Report) last released its earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.11 by $0.20. The firm had revenue of $59.18 million for the quarter, compared to analysts' expectations of $53.01 million. Innodata had a net margin of 14.57% and a return on equity of 44.38%. On average, equities research analysts anticipate that Innodata Inc. will post 0.62 earnings per share for the current year.

Insider Buying and Selling at Innodata

In other Innodata news, CEO Jack Abuhoff sold 187,099 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.07, for a total transaction of $8,619,650.93. Following the transaction, the chief executive officer now owns 1,188,358 shares of the company's stock, valued at approximately $54,747,653.06. This trade represents a 13.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the firm's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the transaction, the director now owns 209,194 shares of the company's stock, valued at approximately $9,204,536. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 559,806 shares of company stock valued at $25,353,904. Company insiders own 15.23% of the company's stock.

Hedge Funds Weigh In On Innodata

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. bought a new position in shares of Innodata during the 3rd quarter valued at about $311,000. Jennison Associates LLC bought a new position in shares of Innodata during the 4th quarter valued at about $402,000. Los Angeles Capital Management LLC bought a new position in shares of Innodata during the 3rd quarter valued at about $330,000. Geode Capital Management LLC boosted its position in shares of Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock valued at $10,294,000 after purchasing an additional 13,609 shares in the last quarter. Finally, Silverleafe Capital Partners LLC bought a new position in shares of Innodata during the 4th quarter valued at about $913,000. Institutional investors 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.