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

Shares of Innodata Inc. (NASDAQ:INOD) gapped up prior to trading on Tuesday . The stock had previously closed at $31.83, but opened at $35.28. Innodata shares last traded at $34.34, with a volume of 260,417 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently commented on INOD. BWS Financial upped their target price on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Chardan Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of Innodata in a research note on Friday, December 13th. Maxim Group raised their price objective on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Wedbush assumed coverage on Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Innodata Stock Down 0.4 %

The stock’s fifty day simple moving average is $44.96 and its 200-day simple moving average is $36.73. The stock has a market capitalization of $1.16 billion, a PE ratio of 43.51 and a beta of 2.66. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The business had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. As a group, sell-side analysts forecast that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insider Activity at Innodata

In other Innodata news, COO Ashok Mishra sold 48,650 shares of Innodata stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 60,000 shares in the company, valued at $3,904,200. The trade was a 44.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the sale, the director now owns 12,417 shares in the company, valued at $799,654.80. The trade was a 94.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,427 shares of company stock worth $17,790,794. Insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Innodata by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock worth $1,291,000 after acquiring an additional 1,843 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Innodata by 38.5% during the third 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 during the period. Centiva Capital LP bought a new position in shares of Innodata during the third quarter valued at about $318,000. Point72 Asset Management L.P. purchased a new position in shares of Innodata in the third quarter worth about $206,000. Finally, State Street Corp lifted 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 acquiring an additional 9,408 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.