Innodata (NASDAQ:INOD) Trading Down 9% – What’s Next?

Shares of Innodata Inc. (NASDAQ:INOD) traded down 9% on Monday . The stock traded as low as $41.28 and last traded at $41.30. 377,573 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 847,683 shares. The stock had previously closed at $45.36.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Craig Hallum initiated coverage on shares of Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price on the stock. BWS Financial lifted 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. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Wedbush began coverage on shares of Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price for the company. Finally, Chardan Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Innodata Trading Down 5.5 %

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 50 day simple moving average is $35.75 and its 200-day simple moving average is $23.23. The firm has a market cap of $1.24 billion, a P/E ratio of 72.68 and a beta of 2.56.

Insider Activity

In related news, Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now owns 25,262 shares in the company, valued at approximately $1,024,374.10. This trade represents a 66.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ashok Mishra sold 69,218 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $47.13, for a total value of $3,262,244.34. The disclosure for this sale can be found here. Insiders have sold a total of 1,035,083 shares of company stock worth $46,889,370 over the last 90 days. 15.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Innodata

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in Innodata by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company’s stock worth $242,000 after acquiring an additional 2,099 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Innodata in the third quarter valued at about $311,000. Barclays PLC boosted its stake in shares of Innodata by 324.3% during the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after buying an additional 29,470 shares during the period. Geode Capital Management LLC grew its holdings in shares of Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after buying an additional 13,609 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Innodata by 1.8% in the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company’s stock valued at $9,011,000 after purchasing an additional 9,408 shares during the last quarter. Hedge funds and other institutional investors 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.