Innodata (NASDAQ:INOD) Stock Price Down 7.5% – Time to Sell?

Innodata Inc. (NASDAQ:INOD) fell 7.5% on Thursday . The stock traded as low as $44.41 and last traded at $43.11. 172,217 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 2,109,964 shares. The stock had previously closed at $46.60.

Analyst Ratings Changes

Several research firms recently weighed in on INOD. Maxim Group increased their target price on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 21st. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. BWS Financial increased 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. Chardan Capital reiterated a “buy” rating and issued a $45.00 target price on shares of Innodata in a research note on Friday, December 13th. Finally, Wedbush began coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Innodata presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Innodata Trading Up 11.7 %

The stock has a market cap of $1.51 billion, a P/E ratio of 56.68 and a beta of 2.59. 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 simple moving average is $44.38 and its 200 day simple moving average is $33.55.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.20. The firm had revenue of $59.18 million during 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%. On average, analysts expect that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Transactions at Innodata

In related news, Director Nauman Sabeeh Toor sold 196,777 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the transaction, the director now owns 12,417 shares in the company, valued at $799,654.80. This represents a 94.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $1,171,620. This represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 385,634 shares of company stock valued at $22,639,902. Corporate insiders own 15.23% of the company’s stock.

Hedge Funds Weigh In On Innodata

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Innodata by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock worth $64,802,000 after purchasing an additional 117,000 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Innodata by 1,718.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock worth $37,331,000 after purchasing an additional 892,663 shares in the last quarter. Geode Capital Management LLC lifted 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 purchasing an additional 13,609 shares in the last quarter. State Street Corp lifted its position in shares of 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 purchasing an additional 9,408 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of Innodata during the fourth quarter worth approximately $16,713,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.