Innodata (NASDAQ:INOD) Trading Down 9.1% – Should You Sell?

Shares of Innodata Inc. (NASDAQ:INOD) fell 9.1% on Monday . The company traded as low as $55.61 and last traded at $56.30. 2,248,640 shares traded hands during mid-day trading, an increase of 16% from the average session volume of 1,940,693 shares. The stock had previously closed at $61.91.

Analyst Ratings Changes

INOD has been the subject of several recent analyst reports. Chardan Capital reissued a “buy” rating and issued a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Wedbush started coverage on shares of Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective on the stock. BWS Financial raised their target price on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Maxim Group lifted their price target on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Innodata presently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Innodata Trading Up 10.4 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The business’s 50-day moving average is $42.44 and its 200 day moving average is $30.91. The firm has a market capitalization of $1.86 billion, a P/E ratio of 75.50 and a beta of 2.57.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.11 by $0.20. The company had revenue of $59.18 million for the quarter, compared to analysts’ expectations of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. As a group, analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insider Transactions at Innodata

In other news, COO Ashok Mishra sold 58,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $44.97, for a total value of $2,630,745.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Nauman Sabeeh Toor sold 200,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $45.37, for a total transaction of $9,074,000.00. Following the sale, the director now directly owns 319,401 shares in the company, valued at approximately $14,491,223.37. The trade was a 38.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 565,484 shares of company stock valued at $29,226,292. Company insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Innodata by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock valued at $64,802,000 after purchasing an additional 117,000 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in shares of Innodata by 1,718.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock valued at $37,331,000 after purchasing an additional 892,663 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after buying an additional 13,609 shares during the period. State Street Corp raised its stake in Innodata by 1.8% during the third quarter. State Street Corp now owns 537,301 shares of the technology company’s stock worth $9,011,000 after buying an additional 9,408 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Innodata in the fourth quarter valued at $16,713,000. 30.75% of the stock is owned by institutional investors.

About Innodata

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.