Innodata (NASDAQ:INOD) Stock Price Up 10% – Here’s What Happened

Innodata Inc. (NASDAQ:INOD)’s share price shot up 10% on Monday . The stock traded as high as $38.19 and last traded at $37.94. 379,286 shares were traded during mid-day trading, a decline of 53% from the average session volume of 814,651 shares. The stock had previously closed at $34.50.

Wall Street Analyst Weigh In

Several research firms have weighed in on INOD. Craig Hallum began coverage on shares of Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target on the stock. BWS Financial increased their price target on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Chardan Capital reissued a “buy” rating and issued a $45.00 price target on shares of Innodata in a report on Friday. Finally, StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.75.

Innodata Stock Performance

The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 64.31 and a beta of 2.56. The stock has a 50 day moving average of $30.83 and a 200 day moving average of $21.35. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15.

Insider Activity at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 38,333 shares of Innodata stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $47.17, for a total value of $1,808,167.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Ashok Mishra sold 58,500 shares of Innodata stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $44.97, for a total value of $2,630,745.00. The disclosure for this sale can be found here. Insiders sold a total of 924,876 shares of company stock valued at $42,040,262 over the last quarter. 15.23% of the stock is owned by corporate insiders.

Institutional Trading of Innodata

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Innodata by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after acquiring an additional 982 shares during the last quarter. nVerses Capital LLC bought a new stake in Innodata in the second quarter valued at approximately $27,000. Charles Schwab Investment Management Inc. boosted its holdings in Innodata by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock valued at $1,291,000 after acquiring an additional 1,843 shares during the last quarter. Compass Ion Advisors LLC boosted its holdings in Innodata by 5.6% in the third quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock valued at $632,000 after acquiring an additional 2,011 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,207 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors.

Innodata Company Profile

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.