Innodata (NASDAQ:INOD) Stock Price Up 9.6% - Here's Why

Innodata Inc. (NASDAQ:INOD - Get Free Report) shares shot up 9.6% during trading on Friday . The company traded as high as $47.60 and last traded at $47.28. 585,186 shares were traded during trading, a decline of 72% from the average session volume of 2,106,024 shares. The stock had previously closed at $43.14.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BWS Financial increased their price target on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Chardan Capital reiterated a "buy" rating and set a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. StockNews.com raised shares of Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Wedbush assumed coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an "outperform" rating and a $48.00 price target on the stock. Finally, 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $53.00.

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Innodata Stock Performance

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $44.30 and a 200 day moving average price of $33.35. The stock has a market cap of $1.51 billion, a PE ratio of 56.23 and a beta of 2.59.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly 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. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The business had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. As a group, research analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.

Insider Buying and Selling at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the business'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 completion of the transaction, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $1,171,620. The trade was a 62.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the 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 sale, the director now directly owns 209,194 shares of the company's stock, valued at approximately $9,204,536. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 385,634 shares of company stock valued at $22,639,902. 15.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of INOD. Principal Financial Group Inc. purchased a new position in Innodata in the third quarter worth $311,000. Jennison Associates LLC purchased a new position in Innodata during the 4th quarter worth $402,000. Los Angeles Capital Management LLC acquired a new position in Innodata during the 3rd quarter valued at about $330,000. Geode Capital Management LLC raised its stake in Innodata by 2.3% in the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock valued at $10,294,000 after buying an additional 13,609 shares during the last quarter. Finally, Silverleafe Capital Partners LLC purchased a new stake in Innodata in the fourth quarter valued at about $913,000. 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.

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