Innodata Inc. (NASDAQ:INOD) Director Sells $2,027,500.00 in Stock

Innodata Inc. (NASDAQ:INOD) Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the completion of the transaction, the director now owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Innodata Stock Down 0.4 %

INOD traded down $0.17 during midday trading on Thursday, hitting $39.16. 1,189,208 shares of the company’s stock traded hands, compared to its average volume of 697,712. The company has a market cap of $1.14 billion, a PE ratio of 65.63 and a beta of 2.30. The stock’s fifty day simple moving average is $19.36 and its 200-day simple moving average is $16.52. 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 Inc. has a one year low of $5.46 and a one year high of $49.72.

Hedge Funds Weigh In On Innodata

Institutional investors have recently modified their holdings of the company. nVerses Capital LLC bought a new position in shares of Innodata in the second quarter valued at approximately $27,000. BNP Paribas Financial Markets raised its position in shares of Innodata by 38.5% in the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after purchasing an additional 3,739 shares during the period. Elkhorn Partners Limited Partnership bought a new position in shares of Innodata in the first quarter valued at approximately $94,000. Private Advisor Group LLC raised its position in shares of Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after purchasing an additional 2,207 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Innodata by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after purchasing an additional 982 shares during the period. Institutional investors own 30.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on INOD. StockNews.com upgraded shares of Innodata to a “sell” rating in a report on Friday, November 8th. BWS Financial increased their price target on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Craig Hallum assumed coverage on shares of Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target for the company. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Innodata currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

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.