Innodata (NASDAQ:INOD) Shares Down 6.5% – Here’s Why

Innodata Inc. (NASDAQ:INOD)’s stock price dropped 6.5% on Monday . The company traded as low as $60.80 and last traded at $60.7410. Approximately 268,503 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 1,225,410 shares. The stock had previously closed at $64.97.

Analysts Set New Price Targets

A number of research firms recently commented on INOD. Wedbush lifted their price target on shares of Innodata from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Innodata in a research note on Monday, December 29th. BWS Financial upgraded Innodata from a “buy” rating to a “top pick” rating and set a $110.00 price target for the company in a research note on Monday, January 5th. Finally, Zacks Research lowered Innodata from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $91.67.

Innodata Stock Performance

The business’s fifty day moving average price is $57.03 and its 200-day moving average price is $57.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.69 and a quick ratio of 2.69. The stock has a market capitalization of $1.96 billion, a PE ratio of 63.57 and a beta of 2.43.

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

Insiders Place Their Bets

In related news, COO Ashok Mishra sold 200,000 shares of Innodata stock in a transaction on Wednesday, November 12th. The stock was 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 owned 60,000 shares of the company’s stock, valued at approximately $3,683,400. This trade represents a 76.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Louise C. Forlenza sold 8,278 shares of the company’s stock in a transaction dated 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 transaction, the director owned 3,943 shares in the company, valued at $256,295. This represents a 67.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 236,372 shares of company stock worth $14,572,507 in the last quarter. 15.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innodata

A number of large investors have recently added to or reduced their stakes in INOD. Farther Finance Advisors LLC bought a new stake in shares of Innodata in the 2nd quarter worth approximately $36,000. Global Retirement Partners LLC purchased a new position in Innodata in the 3rd quarter worth $50,000. IFP Advisors Inc raised its position in Innodata by 1,567.5% in the 3rd quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock worth $51,000 after purchasing an additional 627 shares during the period. Goodman Advisory Group LLC bought a new stake in Innodata in the third quarter worth $52,000. Finally, Toth Financial Advisory Corp boosted its position in Innodata by 40.2% during the second quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company’s stock valued at $59,000 after buying an additional 330 shares during the period. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Innodata Company Profile

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.