Innodata (NASDAQ:INOD) Shares Gap Down – What’s Next?

by · The Markets Daily

Innodata Inc. (NASDAQ:INODGet Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $35.96, but opened at $33.98. Innodata shares last traded at $33.38, with a volume of 262,326 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Chardan Capital reiterated a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Wedbush assumed coverage on shares of Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target on the stock. BWS Financial raised their price objective on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Craig Hallum initiated coverage on shares of Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.20.

View Our Latest Analysis on INOD

Innodata Trading Down 8.1 %

The firm has a market cap of $958.74 million, a P/E ratio of 56.03 and a beta of 2.59. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average price is $39.64 and its two-hundred day moving average price is $25.03.

Insider Activity

In other Innodata news, CFO Marissa B. Espineli sold 38,333 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stewart R. Massey sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the completion of the transaction, the director now directly owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,035,083 shares of company stock worth $46,889,370. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C boosted its holdings in Innodata by 309.5% in the second 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 acquiring an additional 84,509 shares during the last quarter. Rathbones Group PLC acquired a new stake in shares of Innodata during the 2nd quarter worth approximately $916,000. Marshall Wace LLP grew its position 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 worth $1,266,000 after buying an additional 38,954 shares during the period. Barclays PLC raised its stake in shares of Innodata by 324.3% during the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after buying an additional 29,470 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Innodata in the second quarter valued at approximately $381,000. 30.75% of the stock is currently owned by institutional investors.

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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