Innodata (NASDAQ:INOD) Trading Up 8% - Still a Buy?

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s stock price rose 8% during mid-day trading on Friday . The stock traded as high as $42.28 and last traded at $43.01. Approximately 368,176 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,200,066 shares. The stock had previously closed at $39.81.

Wall Street Analysts Forecast Growth

INOD has been the topic of several research reports. StockNews.com raised Innodata from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. BWS Financial raised their price objective on Innodata from $30.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Chardan Capital reissued a "buy" rating and set a $45.00 target price on shares of Innodata in a research note on Friday, December 13th. Finally, Wedbush began coverage on Innodata in a research note on Thursday, December 19th. They set an "outperform" rating and a $48.00 target price on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Innodata presently has an average rating of "Moderate Buy" and an average price target of $38.20.

Innodata Trading Down 4.4 %

The company's 50-day simple moving average is $39.29 and its 200 day simple moving average is $28.07. 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 market capitalization of $1.23 billion, a PE ratio of 71.78 and a beta of 2.57.

Insider Buying and Selling

In other Innodata news, Director Nauman Sabeeh Toor sold 110,207 shares of the stock in a transaction that occurred on 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 in the company, valued at $9,204,536. This represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $180,400.00. Following the sale, the director now directly owns 8,278 shares of the company's stock, valued at approximately $373,337.80. This trade represents a 32.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,035,083 shares of company stock worth $46,889,370 in the last 90 days. Insiders own 15.23% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in Innodata in the third quarter valued at about $311,000. Los Angeles Capital Management LLC acquired a new position in shares of Innodata in the 3rd quarter worth approximately $330,000. Jennison Associates LLC acquired a new stake in shares of Innodata during the fourth quarter worth $402,000. Geode Capital Management LLC grew its position in shares of Innodata by 2.3% during the 3rd 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 bought a new stake in shares of Innodata during the 4th quarter valued at about $913,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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.