Innodata (NASDAQ:INOD) Stock Price Down 8.4% – What’s Next?

Shares of Innodata Inc. (NASDAQ:INOD) dropped 8.4% during trading on Thursday . The stock traded as low as $91.27 and last traded at $93.9110. Approximately 367,097 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 1,592,325 shares. The stock had previously closed at $102.52.

Analyst Upgrades and Downgrades

INOD has been the subject of several recent research reports. Wall Street Zen raised shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Wedbush boosted their price objective on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Weiss Ratings upgraded shares of Innodata from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 3rd. Finally, BWS Financial restated a “buy” rating on shares of Innodata in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Innodata currently has an average rating of “Moderate Buy” and a consensus price target of $130.00.

Innodata Price Performance

The stock’s 50 day moving average price is $75.73 and its two-hundred day moving average price is $59.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.49 and a quick ratio of 2.49. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 85.53 and a beta of 2.83.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.34. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The business had revenue of $90.10 million during the quarter, compared to analysts’ expectations of $76.47 million. During the same period in the previous year, the company earned $0.22 earnings per share. Innodata’s revenue for the quarter was up 54.5% on a year-over-year basis. On average, equities research analysts anticipate that Innodata Inc. will post 1.14 EPS for the current year.

Insider Activity at Innodata

In other Innodata news, COO Ashok Mishra sold 38,666 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $114.34, for a total value of $4,421,070.44. Following the completion of the sale, the chief operating officer directly owned 83,179 shares of the company’s stock, valued at $9,510,686.86. This represents a 31.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Louise C. Forlenza sold 18,000 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $94.47, for a total transaction of $1,700,460.00. Following the completion of the sale, the director directly owned 3,943 shares of the company’s stock, valued at approximately $372,495.21. This trade represents a 82.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,472,885 shares of company stock valued at $143,998,492 in the last quarter. Company insiders own 11.80% of the company’s stock.

Institutional Trading of Innodata

Hedge funds have recently bought and sold shares of the stock. RFG Advisory LLC bought a new stake in Innodata in the 4th quarter valued at $5,750,000. WINTON GROUP Ltd bought a new stake in Innodata in the 3rd quarter valued at $1,834,000. Bleakley Financial Group LLC bought a new stake in Innodata in the 4th quarter valued at $900,000. UBS Group AG boosted its holdings in Innodata by 37.1% in the 4th quarter. UBS Group AG now owns 350,928 shares of the technology company’s stock valued at $17,880,000 after purchasing an additional 95,002 shares during the period. Finally, Next Century Growth Investors LLC boosted its holdings in Innodata by 107.5% in the 4th quarter. Next Century Growth Investors LLC now owns 365,835 shares of the technology company’s stock valued at $18,639,000 after purchasing an additional 189,488 shares during the period. 30.75% of the stock is owned by institutional investors.

Innodata Company Profile

Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata’s platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.

The firm’s offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.