Innodata (NASDAQ:INOD) Shares Down 9.4% - What's Next?

Innodata Inc. (NASDAQ:INOD - Get Free Report) shares fell 9.4% during trading on Monday . The company traded as low as $29.85 and last traded at $29.95. 407,052 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,288,362 shares. The stock had previously closed at $33.04.

Wall Street Analyst Weigh In

Several research firms have recently commented on INOD. BWS Financial increased their target price on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Maxim Group boosted their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research report 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, Innodata has a consensus rating of "Moderate Buy" and an average price target of $53.00.

Innodata Price Performance

The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 44.17 and a beta of 2.66. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $42.77 and a two-hundred day moving average price of $38.00.

Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $53.01 million. As a group, research analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Insider Buying and Selling at Innodata

In related news, COO Ashok Mishra sold 48,650 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total value of $3,165,655.50. Following the sale, the chief operating officer now directly owns 60,000 shares in the company, valued at $3,904,200. This trade represents a 44.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at $1,171,620. The trade was a 62.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,427 shares of company stock valued at $17,790,794 in the last ninety days. Company insiders own 15.23% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. State Street Corp lifted its holdings in Innodata by 1.8% in the third quarter. State Street Corp now owns 537,301 shares of the technology company's stock worth $9,011,000 after purchasing an additional 9,408 shares during the period. Barclays PLC raised its position in shares of Innodata by 324.3% during the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company's stock worth $647,000 after buying an additional 29,470 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Innodata by 2.3% in the 3rd 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 period. Principal Financial Group Inc. bought a new position in shares of Innodata in the third quarter valued at approximately $311,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Innodata by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company's stock valued at $242,000 after acquiring an additional 2,099 shares in the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

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.