Innodata (NASDAQ:INOD) Shares Gap Up – Time to Buy?

Innodata Inc. (NASDAQ:INOD) gapped up prior to trading on Tuesday . The stock had previously closed at $31.83, but opened at $35.28. Innodata shares last traded at $34.34, with a volume of 260,417 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. BWS Financial lifted their price target on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wedbush assumed coverage on shares of Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target for the company. Chardan Capital reissued a “buy” rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Finally, Maxim Group boosted their target price on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Innodata Stock Down 0.4 %

The stock’s fifty day moving average price is $44.96 and its 200-day moving average price is $36.73. 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 company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 43.51 and a beta of 2.66.

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

Insider Transactions at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares in the company, valued at $1,171,620. This trade represents a 62.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total value of $12,672,438.80. Following the transaction, the director now directly owns 12,417 shares in the company, valued at approximately $799,654.80. This trade represents a 94.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,427 shares of company stock worth $17,790,794 in the last 90 days. Corporate insiders own 15.23% of the company’s stock.

Hedge Funds Weigh In On Innodata

Institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC acquired a new stake in shares of Innodata during the fourth quarter worth $402,000. Principal Financial Group Inc. acquired a new stake in Innodata in the third quarter valued at about $311,000. Geode Capital Management LLC grew its position in Innodata by 2.3% in the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after acquiring an additional 13,609 shares during the last quarter. Silverleafe Capital Partners LLC bought a new stake in shares of Innodata during the 4th quarter valued at approximately $913,000. Finally, Calamos Advisors LLC bought a new stake in shares of Innodata during the fourth quarter worth $283,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.