Innodata (NASDAQ:INOD) Shares Gap Up – Still a Buy?

Innodata Inc. (NASDAQ:INOD) shares gapped up before the market opened on Monday . The stock had previously closed at $41.82, but opened at $45.14. Innodata shares last traded at $45.11, with a volume of 296,973 shares.

Analysts Set New Price Targets

INOD has been the topic of several research reports. Chardan Capital reiterated a “buy” rating and issued a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. BWS Financial raised their price target on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Maxim Group upped their price objective on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Wedbush assumed coverage on Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Innodata Stock Down 3.8 %

The firm has a fifty day simple moving average of $45.31 and a 200 day simple moving average of $35.13. 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 company has a market cap of $1.39 billion, a PE ratio of 52.18 and a beta of 2.59.

Innodata (NASDAQ:INOD) last issued 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 net margin of 16.81% and a return on equity of 66.36%. The firm had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. Equities research analysts predict that Innodata Inc. will post 0.81 EPS for the current year.

Insider Activity

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the sale, the director now owns 12,417 shares of the company’s stock, valued at $799,654.80. This represents a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the transaction, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. This represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,427 shares of company stock valued at $17,790,794 in the last three months. Corporate insiders own 15.23% of the company’s stock.

Institutional Investors Weigh In On Innodata

A number of hedge funds have recently bought and sold shares of INOD. Allworth Financial LP acquired a new stake in shares of Innodata during the fourth quarter worth approximately $29,000. USA Financial Formulas bought a new stake in shares of Innodata in the 4th quarter worth about $36,000. Meeder Asset Management Inc. acquired a new stake in shares of Innodata in the 4th quarter valued at about $36,000. AlphaQuest LLC lifted its position in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after purchasing an additional 456 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Innodata in the fourth quarter worth about $150,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.