Innodata (NASDAQ:INOD) Trading Up 9.4% After Analyst Upgrade

Innodata Inc. (NASDAQ:INOD) shot up 9.4% during mid-day trading on Tuesday after BWS Financial raised their price target on the stock from $110.00 to $140.00. BWS Financial currently has a top pick rating on the stock. Innodata traded as high as $108.00 and last traded at $109.0730. 303,482 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,589,834 shares. The stock had previously closed at $99.66.

Several other equities analysts have also recently issued reports on INOD. Wedbush upped their price target on shares of Innodata from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Wall Street Zen raised shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings upgraded Innodata from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.00.

Insider Buying and Selling

In other news, CEO Jack Abuhoff sold 150,000 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $94.39, for a total value of $14,158,500.00. Following the transaction, the chief executive officer directly owned 1,340,456 shares of the company’s stock, valued at $126,525,641.84. The trade was a 10.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Ashok Mishra sold 242,901 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $90.15, for a total value of $21,897,525.15. Following the sale, the chief operating officer owned 95,179 shares in the company, valued at approximately $8,580,386.85. The trade was a 71.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,178,826 shares of company stock worth $112,016,456 in the last 90 days. Corporate insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On Innodata

A number of institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Innodata during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC lifted its position in shares of Innodata by 506.0% during the 4th quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock valued at $41,000 after acquiring an additional 673 shares during the period. Fifth Third Bancorp bought a new position in Innodata during the first quarter worth $45,000. IFP Advisors Inc boosted its stake in Innodata by 1,567.5% during the third quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock worth $51,000 after acquiring an additional 627 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in Innodata in the fourth quarter worth $51,000. 30.75% of the stock is currently owned by institutional investors.

Innodata Price Performance

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 $3.59 billion, a price-to-earnings ratio of 96.70 and a beta of 2.82. The business’s fifty day simple moving average is $73.08 and its 200 day simple moving average is $58.73.

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

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.