Innodata (NASDAQ:INOD) Trading 7.4% Higher – Still a Buy?

Innodata Inc. (NASDAQ:INOD) shares were up 7.4% during mid-day trading on Monday . The stock traded as high as $45.25 and last traded at $44.14. Approximately 632,466 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 750,986 shares. The stock had previously closed at $41.08.

Wall Street Analyst Weigh In

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

Innodata Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $1.18 billion, a P/E ratio of 74.81 and a beta of 2.30. The business has a 50-day moving average price of $25.86 and a 200 day moving average price of $19.38.

Insiders Place Their Bets

In other Innodata news, 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 value of $2,027,500.00. Following the transaction, the director now directly owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. This trade represents a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Ashok Mishra sold 92,726 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $43.16, for a total transaction of $4,002,054.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 666,376 shares of company stock valued at $30,335,517. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in Innodata during the second quarter worth approximately $27,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Innodata by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after purchasing an additional 982 shares during the period. Point72 Asset Management L.P. bought a new position in Innodata during the 3rd quarter valued at about $206,000. BNP Paribas Financial Markets grew its stake in shares of 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 last quarter. Finally, Private Advisor Group LLC grew 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 valued at $250,000 after acquiring an additional 2,207 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors.

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.