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

Innodata Inc. (NASDAQ:INOD)’s share price gapped up prior to trading on Friday . The stock had previously closed at $38.33, but opened at $40.30. Innodata shares last traded at $40.65, with a volume of 377,937 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Craig Hallum began coverage on shares of Innodata in a research note on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target on the stock. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, BWS Financial lifted their target price on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Innodata Price Performance

The stock has a market cap of $1.19 billion, a PE ratio of 69.63 and a beta of 2.30. 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’s fifty day moving average is $25.86 and its 200 day moving average is $19.33.

Insider Activity

In related news, CEO Jack Abuhoff sold 187,099 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.07, for a total transaction of $8,619,650.93. Following the completion of the sale, the chief executive officer now directly owns 1,188,358 shares of the company’s stock, valued at approximately $54,747,653.06. This trade represents a 13.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stewart R. Massey sold 50,000 shares of Innodata stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now directly owns 25,262 shares in the company, valued at $1,024,374.10. This trade represents a 66.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 666,376 shares of company stock valued at $30,335,517. Company insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. acquired a new stake in Innodata in the third quarter valued at $311,000. Los Angeles Capital Management LLC bought a new stake in shares of Innodata in the 3rd quarter worth about $330,000. Vanguard Group Inc. raised its stake in shares of Innodata by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after purchasing an additional 28,173 shares in the last quarter. Rathbones Group PLC bought a new position in shares of Innodata during the second quarter worth about $916,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Innodata by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after purchasing an additional 982 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.