Innodata (NASDAQ:INOD) Shares Down 5.6% - Here's What Happened

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wedbush started coverage on Innodata in a research note on Thursday, December 19th. They issued an "outperform" rating and a $48.00 price objective for the company. Maxim Group upped their price target 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. Chardan Capital reiterated a "buy" rating and set a $45.00 price target on shares of Innodata in a report on Friday, December 13th. Finally, BWS Financial boosted their price objective 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.00.

Innodata Trading Down 3.8 %

The stock has a market cap of $1.39 billion, a P/E ratio of 52.18 and a beta of 2.59. 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 firm's fifty day simple moving average is $45.31 and its 200-day simple moving average is $35.13.

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

Insider Transactions at Innodata

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the completion of the sale, the director now owns 12,417 shares of the company's stock, valued at $799,654.80. This trade represents a 94.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares of the company's stock, valued at $1,171,620. This represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,427 shares of company stock valued at $17,790,794. Corporate insiders own 15.23% of the company's stock.

Hedge Funds Weigh In On Innodata

Institutional investors have recently made changes to their positions in the stock. Invesco Ltd. increased its position in Innodata by 2.0% in the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock valued at $466,000 after buying an additional 232 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Innodata by 2.7% during the fourth quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company's stock valued at $447,000 after acquiring an additional 300 shares in the last quarter. AlphaQuest LLC raised its position 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 purchasing an additional 456 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Innodata by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company's stock worth $608,000 after purchasing an additional 533 shares during the period. Finally, Allworth Financial LP bought a new position in shares of Innodata in the 4th quarter worth $29,000. Institutional investors and hedge funds 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.