Innodata (NASDAQ:INOD) Shares Down 5.6% - Time to Sell?

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s share price traded down 5.6% during trading on Friday . The company traded as low as $40.63 and last traded at $40.60. 180,312 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 1,161,265 shares. The stock had previously closed at $42.99.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on INOD shares. 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. BWS Financial lifted their price target on shares of Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Maxim Group boosted their price objective on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Innodata has a consensus rating of "Moderate Buy" and an average price target of $53.00.

Innodata Trading Down 3.2 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market cap of $1.40 billion, a PE ratio of 52.53 and a beta of 2.59. The stock has a 50-day moving average price of $45.10 and a two-hundred day moving average price of $34.92.

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

Insider Activity

In related news, CFO Marissa B. Espineli sold 30,000 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the transaction, the chief financial officer now owns 18,000 shares of the company's stock, valued at $1,171,620. This trade represents a 62.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Ashok Mishra sold 48,650 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the transaction, the chief operating officer now owns 60,000 shares in the company, valued at $3,904,200. This represents a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,427 shares of company stock valued at $17,790,794. 15.23% of the stock is currently owned by insiders.

Institutional Trading of Innodata

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. purchased a new position in Innodata during the 3rd quarter worth $311,000. Jennison Associates LLC acquired a new stake in Innodata in the fourth quarter worth about $402,000. Geode Capital Management LLC grew its stake in shares of Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock worth $10,294,000 after acquiring an additional 13,609 shares during the last quarter. Silverleafe Capital Partners LLC acquired a new position in shares of Innodata during the fourth quarter valued at about $913,000. Finally, Calamos Advisors LLC purchased a new position in shares of Innodata in the 4th quarter valued at approximately $283,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

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.