Innodata (NASDAQ:INOD) Shares Up 7.6% – Still a Buy?

Innodata Inc. (NASDAQ:INOD)’s share price shot up 7.6% during trading on Thursday. The company traded as high as $69.62 and last traded at $70.7620. 640,074 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 1,501,046 shares. The stock had previously closed at $65.76.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Zacks Research lowered Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings cut shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Finally, BWS Financial reaffirmed a “top pick” rating and set a $140.00 price objective on shares of Innodata in a research note on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Innodata currently has an average rating of “Moderate Buy” and an average price target of $130.00.

Innodata Stock Down 2.5%

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market capitalization of $2.41 billion, a PE ratio of 53.08 and a beta of 2.98. The company has a 50 day moving average price of $61.07 and a 200-day moving average price of $65.98.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.20. The company had revenue of $92.14 million during the quarter, compared to analyst estimates of $86.31 million. Innodata had a return on equity of 37.79% and a net margin of 14.66%.The firm’s revenue was up 57.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share. As a group, analysts forecast that Innodata Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Activity at Innodata

In other news, Director Louise Forlenza sold 10,000 shares of Innodata stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $53.54, for a total transaction of $535,400.00. Following the sale, the director owned 5,424 shares of the company’s stock, valued at approximately $290,400.96. The trade was a 64.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On Innodata

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Innodata by 32.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 583,239 shares of the technology company’s stock valued at $22,517,000 after acquiring an additional 142,192 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Innodata by 13.8% in the 1st quarter. Janus Henderson Group PLC now owns 526,012 shares of the technology company’s stock worth $20,315,000 after acquiring an additional 63,779 shares in the last quarter. Next Century Growth Investors LLC raised its position in shares of Innodata by 107.5% in the 4th quarter. Next Century Growth Investors LLC now owns 365,835 shares of the technology company’s stock worth $18,639,000 after acquiring an additional 189,488 shares in the last quarter. Royal Bank of Canada raised its position in shares of Innodata by 16.7% in the 1st quarter. Royal Bank of Canada now owns 169,054 shares of the technology company’s stock worth $6,528,000 after acquiring an additional 24,216 shares in the last quarter. Finally, Rathbones Group PLC lifted its stake in shares of Innodata by 20.8% in the 1st quarter. Rathbones Group PLC now owns 144,247 shares of the technology company’s stock valued at $5,571,000 after purchasing an additional 24,837 shares during the period. 30.75% of the stock is owned by institutional investors.

About Innodata

Innodata Inc (NASDAQ: INOD) is a data engineering and artificial intelligence services company that helps organizations develop, train and deploy AI systems. Its work includes preparing and managing data, creating training datasets, evaluating AI model outputs and supporting the development of large language models and other machine-learning applications.

The company provides services such as data annotation and labeling, model evaluation, generative AI and natural-language processing support, content transformation, and data management.