Innodata (NASDAQ:INOD) Trading 10% Higher - Should You Buy?

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) traded up 10% on Monday . The stock traded as high as $38.19 and last traded at $37.94. 379,286 shares were traded during trading, a decline of 53% from the average session volume of 814,651 shares. The stock had previously closed at $34.50.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on INOD shares. Chardan Capital restated a "buy" rating and set a $45.00 price target on shares of Innodata in a research note on Friday. StockNews.com upgraded Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. BWS Financial upped their price objective on shares of Innodata from $30.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, Craig Hallum started coverage on shares of Innodata in a research report on Tuesday, September 17th. They set a "buy" rating and a $23.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $35.75.

Innodata Trading Up 9.4 %

The company has a market capitalization of $1.10 billion, a PE ratio of 63.56 and a beta of 2.56. The company has a fifty day simple moving average of $30.83 and a 200-day simple moving average of $21.35. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Insider Activity

In other news, Director Louise C. Forlenza sold 4,000 shares of Innodata stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.10, for a total value of $180,400.00. Following the completion of the sale, the director now directly owns 8,278 shares of the company's stock, valued at approximately $373,337.80. The trade was a 32.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stewart R. Massey sold 50,000 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 25,262 shares of the company's stock, valued at $1,024,374.10. This trade represents a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 924,876 shares of company stock valued at $42,040,262 in the last 90 days. Company insiders own 15.23% of the company's stock.

Institutional Investors Weigh In On Innodata

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. acquired a new position in Innodata during the 3rd quarter worth approximately $311,000. Los Angeles Capital Management LLC purchased a new position in Innodata during the third quarter worth about $330,000. Rathbones Group PLC acquired a new position in Innodata during the 2nd quarter worth approximately $916,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Innodata by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company's stock valued at $102,000 after buying an additional 982 shares during the period. Finally, Centiva Capital LP purchased a new stake in shares of Innodata in the third quarter valued at approximately $318,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.