Innodata (NASDAQ:INOD) Shares Gap Down – Time to Sell?

Innodata Inc. (NASDAQ:INOD) gapped down prior to trading on Monday . The stock had previously closed at $36.73, but opened at $34.76. Innodata shares last traded at $35.61, with a volume of 312,202 shares changing hands.

Wall Street Analysts Forecast Growth

INOD has been the subject of a number of recent research reports. BWS Financial raised their price objective 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 lowered their target price on Innodata from $75.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. 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 investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Innodata currently has an average rating of “Moderate Buy” and an average price target of $55.00.

Innodata Price Performance

The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 43.79 and a beta of 2.75. The company has a fifty day simple moving average of $37.42 and a two-hundred day simple moving average of $40.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The firm had revenue of $58.34 million during the quarter, compared to analyst estimates of $57.64 million. The firm’s revenue was up 120.1% compared to the same quarter last year. As a group, research analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current year.

Insider Transactions at Innodata

In other Innodata news, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the sale, the chief operating officer now owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. The trade was a 44.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the transaction, the chief financial officer now owns 18,000 shares in the company, valued at approximately $1,171,620. This trade represents a 62.50% decrease in their ownership of the stock. 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 three months. Company insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

Institutional investors have recently modified their holdings of the company. Invesco Ltd. lifted its position in Innodata by 2.0% during the fourth quarter. Invesco Ltd. now owns 11,781 shares of the technology company’s stock valued at $466,000 after buying an additional 232 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Innodata by 2.7% in the 4th quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company’s stock valued at $447,000 after acquiring an additional 300 shares during the period. AlphaQuest LLC lifted its holdings in shares of Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after acquiring an additional 456 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Innodata by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company’s stock worth $608,000 after purchasing an additional 533 shares during the period. Finally, Allworth Financial LP purchased a new position in Innodata in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors 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.