Innodata (NASDAQ:INOD) Shares Gap Up Following Analyst Upgrade

Innodata Inc. (NASDAQ:INOD)’s stock price gapped up before the market opened on Tuesday after BWS Financial upgraded the stock from a buy rating to a top pick rating. The stock had previously closed at $62.01, but opened at $64.90. BWS Financial now has a $110.00 price target on the stock. Innodata shares last traded at $62.4940, with a volume of 663,276 shares changing hands.

Other equities research analysts also recently issued reports about the company. Zacks Research downgraded Innodata from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Innodata in a report on Monday, December 29th. Finally, Wedbush boosted their price objective on shares of Innodata from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $91.67.

Insider Transactions at Innodata

In related news, COO Ashok Mishra sold 200,000 shares of Innodata stock in a transaction on 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 transaction, the chief operating officer owned 60,000 shares in the company, valued at approximately $3,683,400. The trade was a 76.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Louise C. Forlenza sold 8,278 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.00, for a total transaction of $538,070.00. Following the completion of the transaction, the director directly owned 3,943 shares of the company’s stock, valued at $256,295. This represents a 67.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 236,372 shares of company stock valued at $14,572,507. Corporate insiders own 15.23% of the company’s stock.

Hedge Funds Weigh In On Innodata

A number of hedge funds have recently made changes to their positions in INOD. Farther Finance Advisors LLC bought a new stake in Innodata during the 2nd quarter valued at approximately $36,000. Global Retirement Partners LLC bought a new stake in shares of Innodata during the third quarter valued at approximately $50,000. IFP Advisors Inc raised its position in shares of Innodata by 1,567.5% during 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 during the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Innodata in the third quarter worth $52,000. Finally, Toth Financial Advisory Corp boosted its position in shares of Innodata by 40.2% during 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 during the last quarter. Institutional investors own 30.75% of the company’s stock.

Innodata Stock Up 1.0%

The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.00 billion, a PE ratio of 64.73 and a beta of 2.43. The company’s 50 day moving average is $57.95 and its two-hundred day moving average is $57.13.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, November 6th. The technology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. The business had revenue of $62.55 million for the quarter, compared to analysts’ expectations of $59.78 million. Innodata had a net margin of 14.11% and a return on equity of 41.67%. The business’s revenue was up 19.8% on a year-over-year basis. On average, analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current year.

About Innodata

Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata’s platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.

The firm’s offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.