Innodata Inc. (NASDAQ:INOD) Short Interest Update

Innodata Inc. (NASDAQ:INOD - Get Free Report) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 3,850,000 shares, a growth of 14.2% from the December 31st total of 3,370,000 shares. Based on an average daily volume of 1,590,000 shares, the short-interest ratio is presently 2.4 days.

Analysts Set New Price Targets

Several research firms have issued reports on INOD. 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 objective for the company. Chardan Capital reaffirmed a "buy" rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. StockNews.com raised Innodata from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Finally, BWS Financial lifted their target price on shares of Innodata from $30.00 to $45.00 and gave the company a "buy" rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.20.

Innodata Stock Performance

Shares of Innodata stock traded up $0.54 during trading hours on Wednesday, hitting $39.29. 687,154 shares of the company were exchanged, compared to its average volume of 1,254,121. Innodata has a 1 year low of $5.46 and a 1 year high of $55.17. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 66.59 and a beta of 2.57. 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 of $39.13 and a 200-day moving average of $27.39.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.28. The firm had revenue of $52.22 million during the quarter, compared to the consensus estimate of $35.47 million. Innodata had a net margin of 14.57% and a return on equity of 44.38%. During the same quarter last year, the firm earned $0.01 earnings per share. As a group, analysts expect that Innodata will post 0.62 EPS for the current fiscal year.

Insider Activity at Innodata

In other news, CEO Jack Abuhoff sold 225,000 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nauman Sabeeh Toor sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $45.37, for a total transaction of $9,074,000.00. Following the transaction, the director now owns 319,401 shares of the company's stock, valued at $14,491,223.37. This trade represents a 38.51 % decrease in their position. 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. Corporate insiders own 15.23% of the company's stock.

Institutional Trading of Innodata

A number of institutional investors have recently added to or reduced their stakes in INOD. Marshall Wace LLP boosted its stake in shares of Innodata by 83.9% during the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company's stock worth $1,266,000 after acquiring an additional 38,954 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Innodata during the second quarter worth $381,000. Compass Ion Advisors LLC boosted its position in Innodata by 5.6% during the third 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 in the last quarter. Private Advisor Group LLC grew its holdings in Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company's stock valued at $250,000 after purchasing an additional 2,207 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Innodata in the third quarter valued at $311,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

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.