Innodata (NASDAQ:INOD) Shares Gap Up – What’s Next?

Shares of Innodata Inc. (NASDAQ:INOD) 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.

Analyst Upgrades and Downgrades

INOD has been the subject of a number of research analyst reports. Craig Hallum initiated coverage on Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target for the company. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, BWS Financial boosted their price target on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.67.

Innodata Stock Up 7.5 %

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 has a market capitalization of $1.19 billion, a P/E ratio of 69.83 and a beta of 2.30. The stock has a fifty day moving average price of $25.32 and a 200 day moving average price of $19.06.

Insider Activity

In other news, COO Ashok Mishra sold 92,726 shares of Innodata stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total transaction of $4,002,054.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Louise C. Forlenza sold 4,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.10, for a total value of $180,400.00. Following the transaction, the director now directly 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 have sold a total of 666,376 shares of company stock worth $30,335,517 over the last ninety days. Company insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

Hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new stake in Innodata during the second quarter valued at about $27,000. Point72 Asset Management L.P. bought a new position in shares of Innodata during the 3rd quarter valued at about $206,000. BNP Paribas Financial Markets raised its holdings in shares of Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after buying an additional 3,739 shares in the last quarter. Private Advisor Group LLC lifted its position in Innodata by 17.4% in the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after buying an additional 2,207 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Innodata by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after buying an additional 982 shares during the last quarter. 30.75% of the stock is 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.