Innodata (NASDAQ:INOD) Trading 9.8% Higher - Time to Buy?

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) shot up 9.8% on Thursday . The stock traded as high as $50.45 and last traded at $48.16. 964,799 shares changed hands during trading, a decline of 21% from the average session volume of 1,225,125 shares. The stock had previously closed at $43.84.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on INOD shares. StockNews.com upgraded shares of Innodata from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. BWS Financial raised their price target 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. Chardan Capital restated a "buy" rating and issued a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. Finally, Wedbush started coverage on shares of Innodata in a research report on Thursday, December 19th. They issued an "outperform" rating and a $48.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Innodata has a consensus rating of "Moderate Buy" and a consensus target price of $38.20.

Innodata Stock Performance

The stock has a market capitalization of $1.56 billion, a P/E ratio of 91.26 and a beta of 2.57. The company's 50-day moving average is $39.63 and its two-hundred day moving average is $28.89. 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 at Innodata

In related news, Director Louise C. Forlenza sold 4,000 shares of the business's stock in a transaction that occurred 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 owns 8,278 shares of the company's stock, valued at $373,337.80. The trade was a 32.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jack Abuhoff sold 225,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total value of $10,435,500.00. Following the transaction, the chief executive officer now directly owns 1,188,358 shares of the company's stock, valued at approximately $55,116,044.04. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 985,083 shares of company stock worth $44,861,870 in the last ninety days. 15.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Innodata

Several hedge funds and other institutional investors have recently bought and sold shares of INOD. Compass Ion Advisors LLC grew its stake in shares of Innodata by 5.6% in the 3rd quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company's stock worth $632,000 after purchasing an additional 2,011 shares during the last quarter. Private Advisor Group LLC grew its position in Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company's stock worth $250,000 after buying an additional 2,207 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Innodata in the third quarter valued at $311,000. Los Angeles Capital Management LLC acquired a new stake in Innodata during the 3rd quarter worth about $330,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Innodata by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company's stock valued at $1,291,000 after buying an additional 1,843 shares in the last quarter. 30.75% of the stock is currently owned by 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.