Innodata (NASDAQ:INOD) Shares Down 5.6% – Here’s Why

Innodata Inc. (NASDAQ:INOD)’s share price dropped 5.6% on Friday . The company traded as low as $40.63 and last traded at $40.60. Approximately 180,312 shares were traded during trading, a decline of 84% from the average daily volume of 1,161,265 shares. The stock had previously closed at $42.99.

Analyst Upgrades and Downgrades

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

Innodata Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s fifty day simple moving average is $44.85 and its 200-day simple moving average is $34.57. The stock has a market cap of $1.31 billion, a P/E ratio of 49.20 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.20. The company had revenue of $59.18 million for the quarter, compared to analysts’ expectations of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. On average, research analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current year.

Insider Buying and Selling at Innodata

In other news, CFO Marissa B. Espineli sold 30,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 18,000 shares in the company, valued at $1,171,620. The trade was a 62.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Ashok Mishra sold 48,650 shares of the business’s 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 transaction, the chief operating officer now owns 60,000 shares in the company, valued at approximately $3,904,200. This represents a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,427 shares of company stock valued at $17,790,794. Corporate insiders own 15.23% of the company’s stock.

Institutional Investors Weigh In On Innodata

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. acquired a new position in Innodata during the 3rd quarter worth $311,000. Jennison Associates LLC acquired a new position in Innodata during the 4th quarter worth $402,000. Geode Capital Management LLC lifted its position in Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after acquiring an additional 13,609 shares during the last quarter. Silverleafe Capital Partners LLC acquired a new position in Innodata during the 4th quarter worth $913,000. Finally, Calamos Advisors LLC acquired a new position in Innodata during the 4th quarter worth $283,000. 30.75% of the stock is currently owned by institutional investors.

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.