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

Shares of Innodata Inc. (NASDAQ:INOD) gapped up prior to trading on Wednesday . The stock had previously closed at $41.88, but opened at $44.96. Innodata shares last traded at $43.61, with a volume of 463,130 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INOD. Chardan Capital reiterated a “buy” rating and set a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. BWS Financial upped their price objective on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wedbush started coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price for the company. Finally, Maxim Group increased their price target on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Innodata Stock Up 9.8 %

The business has a 50-day moving average of $44.08 and a 200-day moving average of $33.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 53.75 and a beta of 2.59.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. On average, sell-side analysts expect that Innodata Inc. will post 0.81 EPS for the current year.

Insider Transactions at Innodata

In other news, CFO Marissa B. Espineli sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares in the company, valued at approximately $1,171,620. The trade was a 62.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Ashok Mishra sold 48,650 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the transaction, the chief operating officer now directly owns 60,000 shares in the company, valued at $3,904,200. This trade represents a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,634 shares of company stock valued at $22,639,902. 15.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Innodata

Institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP acquired a new position in Innodata during the fourth quarter worth approximately $29,000. USA Financial Formulas acquired a new position in shares of Innodata in the 4th quarter valued at $36,000. Meeder Asset Management Inc. acquired a new position in shares of Innodata in the 4th quarter valued at $36,000. AlphaQuest LLC raised its position in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after purchasing an additional 456 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Innodata during the 4th quarter worth $150,000. 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.