Innodata (NASDAQ:INOD) Stock Price Up 7.8% – What’s Next?

Innodata Inc. (NASDAQ:INOD)’s stock price was up 7.8% on Tuesday . The stock traded as high as $39.56 and last traded at $39.34. Approximately 896,867 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 1,342,857 shares. The stock had previously closed at $36.48.

Wall Street Analysts Forecast Growth

INOD has been the subject of several recent research reports. BWS Financial boosted their price objective on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 21st. Wedbush lowered their price target on shares of 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 increased their target price on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Innodata has a consensus rating of “Moderate Buy” and an average price target of $55.00.

Innodata Stock Performance

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’s 50 day moving average is $36.71 and its two-hundred day moving average is $40.85. The company has a market cap of $1.26 billion, a PE ratio of 46.74 and a beta of 2.75.

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

Insider Activity at Innodata

In related news, COO Ashok Mishra sold 48,650 shares of the 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 completion of the transaction, the chief operating officer now directly owns 60,000 shares of the company’s stock, valued at $3,904,200. This represents a 44.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the firm’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 transaction of $12,672,438.80. Following the sale, the director now 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. Over the last quarter, insiders have sold 275,427 shares of company stock worth $17,790,794. 12.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Axiom Investors LLC DE acquired a new position in shares of Innodata during the first quarter valued at $1,532,000. Scientech Research LLC lifted its stake in shares of Innodata by 215.6% in the 1st quarter. Scientech Research LLC now owns 33,307 shares of the technology company’s stock valued at $1,196,000 after purchasing an additional 22,755 shares during the last quarter. Millennium Management LLC lifted its position in Innodata by 30.7% during the 1st quarter. Millennium Management LLC now owns 142,608 shares of the technology company’s stock worth $5,120,000 after acquiring an additional 33,473 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Innodata by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company’s stock valued at $577,000 after acquiring an additional 711 shares during the period. Finally, AQR Capital Management LLC grew its position in Innodata by 446.4% in the first quarter. AQR Capital Management LLC now owns 90,968 shares of the technology company’s stock valued at $3,266,000 after acquiring an additional 74,320 shares during the period. Institutional investors and hedge funds 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.