Innodata (NASDAQ:INOD) Shares Gap Down – Here’s Why

Innodata Inc. (NASDAQ:INOD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $37.08, but opened at $34.00. Innodata shares last traded at $35.11, with a volume of 251,650 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on INOD shares. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Chardan Capital reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. Wedbush assumed coverage on shares of Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price on the stock. Finally, BWS Financial raised their target price on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Innodata currently has an average rating of “Moderate Buy” and an average target price of $38.20.

Innodata Stock Performance

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 firm has a market capitalization of $1.05 billion, a PE ratio of 61.86 and a beta of 2.57. The firm’s 50-day moving average price is $39.34 and its two-hundred day moving average price is $27.12.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, November 7th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.28. The company 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 period in the previous year, the business earned $0.01 EPS. As a group, research analysts predict that Innodata Inc. will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Marissa B. Espineli sold 38,333 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $47.17, for a total transaction of $1,808,167.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Louise C. Forlenza sold 4,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.10, for a total value of $180,400.00. Following the completion of the transaction, the director now owns 8,278 shares in the company, valued at $373,337.80. This trade represents a 32.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,035,083 shares of company stock worth $46,889,370. 15.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innodata

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. bought a new position in Innodata during the third quarter valued at approximately $311,000. Los Angeles Capital Management LLC acquired a new position in shares of Innodata during the 3rd quarter worth $330,000. Geode Capital Management LLC raised its holdings in shares of Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after purchasing an additional 13,609 shares in the last quarter. Silverleafe Capital Partners LLC acquired a new stake in shares of Innodata in the 4th quarter valued at $913,000. Finally, Barclays PLC boosted its holdings in Innodata by 324.3% in the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after purchasing an additional 29,470 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

About Innodata

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.