Innodata (NASDAQ:INOD) Trading 6% Higher – Still a Buy?

Shares of Innodata Inc. (NASDAQ:INOD) rose 6% during mid-day trading on Tuesday . The company traded as high as $64.23 and last traded at $64.7390. 740,627 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 1,463,980 shares. The stock had previously closed at $61.05.

Wall Street Analysts Forecast Growth

INOD has been the subject of several recent research reports. BWS Financial reissued a “top pick” rating and set a $140.00 price target on shares of Innodata in a research report on Friday. Zacks Research downgraded Innodata from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings downgraded shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Finally, Wedbush upped their target price on shares of Innodata from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. One research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $130.00.

Innodata Stock Up 4.2%

The firm has a fifty day simple moving average of $59.72 and a 200 day simple moving average of $64.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market cap of $2.19 billion, a PE ratio of 48.17 and a beta of 2.88.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, August 6th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.20. The firm had revenue of $92.14 million during the quarter, compared to the consensus estimate of $86.31 million. Innodata had a net margin of 14.66% and a return on equity of 37.79%. Innodata’s revenue was up 57.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 earnings per share. Equities research analysts predict that Innodata Inc. will post 1.18 EPS for the current year.

Insider Activity at Innodata

In related news, Director Louise Forlenza sold 10,000 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $53.54, for a total value of $535,400.00. Following the transaction, the director directly owned 5,424 shares of the company’s stock, valued at approximately $290,400.96. This trade represents a 64.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Innodata

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Compass Financial Management LLC purchased a new position in shares of Innodata in the 2nd quarter worth about $26,000. Ancora Advisors LLC acquired a new stake in Innodata during the 2nd quarter worth approximately $36,000. Leonteq Securities AG purchased a new position in Innodata in the fourth quarter valued at approximately $51,000. Fifth Third Bancorp purchased a new position in Innodata in the first quarter valued at approximately $45,000. Finally, IFP Advisors Inc lifted its position in Innodata by 74.8% during the fourth quarter. IFP Advisors Inc now owns 1,166 shares of the technology company’s stock valued at $59,000 after buying an additional 499 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Innodata Company Profile

Innodata Inc is a global data engineering and artificial intelligence services company that helps organizations prepare, manage and use data for digital applications. Its services support the development and deployment of machine learning and generative artificial intelligence systems, including data collection, annotation, labeling, curation, evaluation and model testing.

The company also provides content transformation and information management services. These offerings can include converting and structuring complex content, improving data quality, automating business processes and developing customized data workflows.