Innodata (NASDAQ:INOD) Shares Up 7% – Here’s Why

Innodata Inc. (NASDAQ:INOD)’s stock price shot up 7% during trading on Friday . The stock traded as high as $63.15 and last traded at $61.6310. 435,667 shares changed hands during trading, a decline of 65% from the average session volume of 1,229,576 shares. The stock had previously closed at $57.61.

Analysts Set New Price Targets

INOD has been the topic of several research analyst reports. BWS Financial raised Innodata from a “buy” rating to a “top pick” rating and set a $110.00 price objective on the stock in a research note on Monday, January 5th. Wedbush raised their price target on shares of Innodata from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Zacks Research lowered shares of Innodata from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings downgraded shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Innodata currently has a consensus rating of “Moderate Buy” and an average price target of $91.67.

Innodata Price Performance

The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 64.35 and a beta of 2.43. The business’s 50-day moving average price is $56.64 and its two-hundred day moving average price is $57.81. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.69 and a quick ratio of 2.69.

Innodata (NASDAQ:INOD) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. The firm had revenue of $62.55 million for the quarter, compared to the consensus estimate of $59.78 million. Innodata had a net margin of 14.11% and a return on equity of 41.67%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, research analysts forecast that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insider Activity

In other news, Director Louise C. Forlenza sold 8,278 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 3,943 shares in the company, valued at approximately $256,295. The trade was a 67.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ashok Mishra sold 200,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $61.39, for a total value of $12,278,000.00. Following the transaction, the chief operating officer owned 60,000 shares in the company, valued at $3,683,400. This trade represents a 76.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 236,372 shares of company stock valued at $14,572,507. 12.20% of the stock is owned by corporate insiders.

Institutional Trading of Innodata

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Innodata by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,840,491 shares of the technology company’s stock worth $141,847,000 after buying an additional 15,036 shares during the last quarter. Geode Capital Management LLC raised its stake in Innodata by 11.0% during the second quarter. Geode Capital Management LLC now owns 700,217 shares of the technology company’s stock worth $35,869,000 after acquiring an additional 69,475 shares during the period. Jump Financial LLC lifted its holdings in Innodata by 1,058.5% in the second quarter. Jump Financial LLC now owns 391,200 shares of the technology company’s stock worth $20,037,000 after acquiring an additional 357,433 shares during the last quarter. Plustick Management LLC lifted its holdings in Innodata by 1.4% in the third quarter. Plustick Management LLC now owns 360,000 shares of the technology company’s stock worth $27,745,000 after acquiring an additional 5,000 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Innodata by 51.7% in the third quarter. First Trust Advisors LP now owns 231,740 shares of the technology company’s stock valued at $17,860,000 after acquiring an additional 78,963 shares during the period. Institutional investors own 30.75% of the company’s stock.

About Innodata

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.