Innodata (NASDAQ:INOD) Shares Up 6.2% – Time to Buy?

Shares of Innodata Inc. (NASDAQ:INOD) were up 6.2% on Friday . The stock traded as high as $38.50 and last traded at $38.34. Approximately 545,774 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,268,322 shares. The stock had previously closed at $36.09.

Analyst Ratings Changes

Several equities research analysts recently commented on INOD shares. Chardan Capital restated a “buy” rating and set a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. Wedbush began coverage on Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target on the stock. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, BWS Financial increased their target price on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Innodata Price Performance

The business has a 50-day moving average price of $39.49 and a two-hundred day moving average price of $26.91. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 62.87 and a beta of 2.59.

Innodata (NASDAQ:INOD) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.28. The firm had revenue of $52.22 million for the quarter, compared to the consensus estimate of $35.47 million. Innodata had a net margin of 14.57% and a return on equity of 44.38%. During the same quarter in the prior year, the company posted $0.01 earnings per share. As a group, research analysts anticipate that Innodata Inc. will post 0.62 EPS for the current year.

Insider Activity at Innodata

In other Innodata news, CEO Jack Abuhoff sold 225,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $46.38, for a total value of $10,435,500.00. Following the completion of the sale, the chief executive officer now owns 1,188,358 shares in the company, valued at approximately $55,116,044.04. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stewart R. Massey sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the transaction, the director now owns 25,262 shares in the company, valued at $1,024,374.10. The trade was a 66.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,035,083 shares of company stock valued at $46,889,370. 15.23% of the stock is owned by corporate insiders.

Institutional Trading of Innodata

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP bought a new position in Innodata in the 4th quarter valued at $29,000. USA Financial Formulas purchased a new position in shares of Innodata in the 4th quarter worth about $36,000. Spire Wealth Management bought a new position in Innodata during the fourth quarter valued at about $166,000. Calamos Advisors LLC purchased a new stake in shares of Innodata during the 4th quarter worth approximately $283,000. Finally, Harbour Capital Advisors LLC purchased a new stake in Innodata in the fourth quarter worth $292,000. 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.