Innodata (NASDAQ:INOD) Rating Lowered to “Hold” at Zacks Research

Innodata (NASDAQ:INOD) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Innodata in a research note on Monday. BWS Financial restated a “buy” rating and issued a $110.00 price objective on shares of Innodata in a report on Tuesday, November 11th. Finally, Wedbush lifted their price objective on shares of Innodata from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Innodata Trading Down 3.6%

NASDAQ:INOD opened at $52.87 on Tuesday. Innodata has a 12-month low of $26.41 and a 12-month high of $93.85. The firm has a market cap of $1.68 billion, a PE ratio of 54.86 and a beta of 2.39. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average price of $68.49 and a 200 day moving average price of $55.86.

Innodata (NASDAQ:INOD) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Innodata had a return on equity of 41.67% and a net margin of 14.11%.The company had revenue of $62.55 million for the quarter, compared to analyst estimates of $59.78 million. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. Sell-side analysts anticipate that Innodata will post 0.81 earnings per share for the current fiscal year.

Insider Activity

In other Innodata news, Director Louise C. Forlenza sold 8,278 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $65.00, for a total value of $538,070.00. Following the completion of the sale, the director owned 3,943 shares in the company, valued at approximately $256,295. The trade was a 67.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ashok Mishra sold 200,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $61.39, for a total transaction of $12,278,000.00. Following the completion of the sale, the chief operating officer directly owned 60,000 shares of the company’s stock, valued at $3,683,400. The trade was a 76.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 236,372 shares of company stock valued at $14,572,507 over the last three months. Company insiders own 12.20% of the company’s stock.

Institutional Trading of Innodata

Several institutional investors and hedge funds have recently added to or reduced their stakes in INOD. Farther Finance Advisors LLC purchased a new position in shares of Innodata in the 2nd quarter valued at approximately $36,000. Global Retirement Partners LLC purchased a new stake in shares of Innodata in the third quarter valued at approximately $50,000. IFP Advisors Inc boosted its stake in shares of Innodata by 1,567.5% in the third quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock valued at $51,000 after buying an additional 627 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in Innodata during the third quarter worth $52,000. Finally, Toth Financial Advisory Corp raised its position in Innodata by 40.2% in the second quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company’s stock worth $59,000 after acquiring an additional 330 shares in the last quarter. 30.75% of the stock is owned by hedge funds and other 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.