Innodata (NASDAQ:INOD) Trading 6.2% Higher - Time to Buy?

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s stock price traded up 6.2% on Friday . The company traded as high as $42.00 and last traded at $41.94. 108,069 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 459,753 shares. The stock had previously closed at $39.50.

Analyst Upgrades and Downgrades

INOD has been the topic of several research reports. Wedbush assumed coverage on shares of Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target on the stock. Craig Hallum began coverage on shares of Innodata in a research note on Tuesday, September 17th. They set a "buy" rating and a $23.00 price target on the stock. BWS Financial boosted 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. StockNews.com upgraded Innodata from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Finally, Chardan Capital restated a "buy" rating and set a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Innodata currently has an average rating of "Moderate Buy" and a consensus price target of $38.20.

Innodata Stock Up 12.2 %

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 company has a market cap of $1.29 billion, a P/E ratio of 75.12 and a beta of 2.59. The firm's 50-day simple moving average is $37.89 and its 200 day simple moving average is $24.01.

Insider Activity at Innodata

In related news, CEO Jack Abuhoff sold 225,000 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the completion of the transaction, the chief executive officer now owns 1,188,358 shares in the company, valued at approximately $55,116,044.04. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marissa B. Espineli sold 38,333 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $47.17, for a total transaction of $1,808,167.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,035,083 shares of company stock worth $46,889,370. 15.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in shares of Innodata during the 2nd quarter valued at about $27,000. Point72 Asset Management L.P. acquired a new stake in Innodata during the 3rd quarter worth approximately $206,000. BNP Paribas Financial Markets lifted its stake in Innodata by 38.5% in the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock valued at $225,000 after buying an additional 3,739 shares in the last quarter. 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 buying an additional 2,099 shares during the period. Finally, Private Advisor Group LLC increased its position in shares of Innodata by 17.4% during the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company's stock worth $250,000 after acquiring an additional 2,207 shares in the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

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.