Innodata Sees Unusually High Options Volume (NASDAQ:INOD)

Innodata Inc. (NASDAQ:INOD) saw some unusual options trading activity on Friday. Investors bought 13,935 call options on the stock. This represents an increase of approximately 444% compared to the typical volume of 2,560 call options.

Innodata Trading Up 13.4 %

Shares of Innodata stock opened at $61.89 on Friday. The firm has a market cap of $1.79 billion, a PE ratio of 72.81 and a beta of 2.57. Innodata has a 1 year low of $5.46 and a 1 year high of $71.00. The company has a 50 day simple moving average of $41.60 and a two-hundred day simple moving average of $30.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Innodata (NASDAQ:INOD) last posted 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. The firm had revenue of $59.18 million for the quarter, compared to the consensus estimate of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. Analysts expect that Innodata will post 0.81 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jack Abuhoff sold 187,099 shares of Innodata stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.07, for a total value of $8,619,650.93. Following the completion of the transaction, the chief executive officer now owns 1,188,358 shares in the company, valued at $54,747,653.06. This trade represents a 13.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Louise C. Forlenza sold 4,000 shares of Innodata stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.10, for a total transaction of $180,400.00. Following the completion of the transaction, the director now owns 8,278 shares of the company’s stock, valued at $373,337.80. The trade was a 32.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 559,806 shares of company stock worth $25,353,904 over the last quarter. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Allworth Financial LP purchased a new position in shares of Innodata in the fourth quarter worth $29,000. USA Financial Formulas purchased a new position in shares of Innodata in the fourth quarter worth $36,000. Meeder Asset Management Inc. purchased a new position in shares of Innodata in the fourth quarter worth $36,000. AlphaQuest LLC increased its stake in shares of Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after buying an additional 456 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Innodata in the fourth quarter worth $150,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BWS Financial lifted their target price on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday. Maxim Group lifted their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday. Wedbush assumed 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. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Chardan Capital restated a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. 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 company currently has an average rating of “Moderate Buy” and an average target price of $53.00.

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.