Innodata (NASDAQ:INOD) Trading Down 4.2% – Should You Sell?

Innodata Inc. (NASDAQ:INOD)’s stock price was down 4.2% on Monday . The company traded as low as $48.10 and last traded at $49.07. Approximately 682,715 shares changed hands during trading, a decline of 52% from the average daily volume of 1,419,114 shares. The stock had previously closed at $51.23.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INOD. Wedbush lowered their target price on Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. BWS Financial boosted their target price on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Maxim Group upped their price objective on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Innodata Trading Down 5.5%

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 company has a market capitalization of $1.54 billion, a P/E ratio of 56.92 and a beta of 2.65. The stock has a 50 day moving average of $37.11 and a 200-day moving average of $40.86.

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

Hedge Funds Weigh In On Innodata

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its position in Innodata by 3.5% in the first quarter. Rhumbline Advisers now owns 38,100 shares of the technology company’s stock valued at $1,368,000 after purchasing an additional 1,281 shares during the period. Strs Ohio purchased a new stake in Innodata in the 1st quarter valued at $248,000. Axiom Investors LLC DE acquired a new position in shares of Innodata in the first quarter valued at approximately $1,532,000. Scientech Research LLC lifted its position in Innodata by 215.6% in the first 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 period. Finally, Millennium Management LLC grew its stake in shares of 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 purchasing an additional 33,473 shares during the period. 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.