Innodata (NASDAQ:INOD) Shares Down 9% - Here's Why
Innodata Inc. (NASDAQ:INOD) shares fell 9% to $41.30 on Monday, with trading volume down 55% from average levels. Analysts have mixed ratings, with Wedbush setting a target of $48.00 and Chardan Capital at $45.00. Insider selling has been notable, with CFO Marissa B. Espineli selling 38,333 shares. Institutional ownership stands at 30.75%, with hedge funds increasing their stakes significantly. The company operates in data engineering and AI services, with a market cap of $1.24 billion and a P/E ratio of 72.68.
Innodata Inc. (NASDAQ:INOD - Get Free Report)'s share price fell 9% on Monday . The stock traded as low as $41.28 and last traded at $41.30. 377,573 shares changed hands during trading, a decline of 55% from the average session volume of 847,683 shares. The stock had previously closed at $45.36.
Analyst Ratings Changes
- 3 Stocks Under $20 for Buy-and-Hold Investors Seeking Growth
A number of equities analysts have recently weighed in on INOD shares. Wedbush assumed coverage on shares of Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target on the stock. Chardan Capital reaffirmed a "buy" rating and issued a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. BWS Financial increased their price objective on shares of Innodata from $30.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Craig Hallum started coverage on Innodata in a research report on Tuesday, September 17th. They issued a "buy" rating and a $23.00 target price on the stock. Finally, StockNews.com upgraded Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.20.
Read Our Latest Research Report on INOD
Innodata Stock Down 5.5 %
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The firm has a market cap of $1.24 billion, a P/E ratio of 72.68 and a beta of 2.56. The firm's fifty day moving average is $35.75 and its 200 day moving average is $23.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.
Insider Buying and Selling at Innodata
In other news, CFO Marissa B. Espineli sold 38,333 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $47.17, for a total transaction of $1,808,167.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stewart R. Massey sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total value of $2,027,500.00. Following the sale, the director now owns 25,262 shares of the company's stock, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,035,083 shares of company stock worth $46,889,370. 15.23% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Innodata
- The 5 best small cap AI companies to buy now
Hedge funds have recently modified their holdings of the company. Deerfield Management Company L.P. Series C grew its stake in Innodata by 309.5% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company's stock valued at $1,658,000 after purchasing an additional 84,509 shares during the period. Rathbones Group PLC purchased a new position in Innodata in the second quarter valued at approximately $916,000. Marshall Wace LLP lifted its stake in shares of Innodata by 83.9% during the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company's stock valued at $1,266,000 after buying an additional 38,954 shares in the last quarter. Barclays PLC grew its stake in Innodata by 324.3% in the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company's stock valued at $647,000 after buying an additional 29,470 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Innodata in the second quarter worth $381,000. Institutional investors own 30.75% of the company's stock.
Innodata Company Profile
(Get Free Report)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.
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