Innodata (NASDAQ:INOD) Shares Down 6.2% – Should You Sell?

Innodata Inc. (NASDAQ:INOD)’s share price fell 6.2% during mid-day trading on Thursday . The company traded as low as $48.40 and last traded at $50.47. 390,155 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 2,118,790 shares. The stock had previously closed at $53.80.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wedbush started coverage on shares of Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price on the stock. Maxim Group lifted their price objective on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. BWS Financial boosted 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. Chardan Capital restated a “buy” rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. Finally, StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Innodata Price Performance

The company has a market cap of $1.44 billion, a PE ratio of 54.37 and a beta of 2.57. The business has a 50 day moving average of $44.02 and a 200 day moving average of $32.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company had revenue of $59.18 million for the quarter, compared to analysts’ expectations of $53.01 million. As a group, research analysts predict that Innodata Inc. will post 0.81 EPS for the current year.

Insider Transactions at Innodata

In other news, Director Nauman Sabeeh Toor sold 110,207 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $44.00, for a total value of $4,849,108.00. Following the sale, the director now directly owns 209,194 shares of the company’s stock, 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 the SEC website. Also, COO Ashok Mishra sold 48,650 shares of Innodata stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the transaction, the chief operating officer now directly owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 385,634 shares of company stock valued at $22,639,902. Corporate insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Innodata by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock valued at $64,802,000 after purchasing an additional 117,000 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Innodata by 1,718.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock worth $37,331,000 after acquiring an additional 892,663 shares during the period. Geode Capital Management LLC grew its stake in shares of Innodata by 2.3% in the third 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. State Street Corp raised its holdings in shares of Innodata by 1.8% during the third quarter. State Street Corp now owns 537,301 shares of the technology company’s stock valued at $9,011,000 after purchasing an additional 9,408 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Innodata during the fourth quarter valued at approximately $16,713,000. 30.75% of the stock is 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.