Innodata (NASDAQ:INOD) Stock Jumps 9.3% – What’s Next?

Innodata Inc. (NASDAQ:INOD)’s share price was up 9.3% on Wednesday. The stock traded as high as $58.48 and last traded at $60.1640. 265,343 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 1,474,892 shares. The stock had previously closed at $55.04.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on INOD shares. Zacks Research cut Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Yorkville Ives initiated coverage on Innodata in a research note on Monday, October 5th. They set an “outperform” rating and a $90.00 target price on the stock. BWS Financial restated a “top pick” rating and set a $140.00 target price on shares of Innodata in a report on Friday, September 18th. Finally, Weiss Ratings downgraded Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.67.

Innodata Stock Performance

The stock has a market capitalization of $2.07 billion, a PE ratio of 45.60 and a beta of 2.98. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $60.25 and a 200-day moving average of $67.60.

Innodata (NASDAQ:INOD) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.20. Innodata had a return on equity of 37.79% and a net margin of 14.66%. The company had revenue of $92.14 million for the quarter, compared to the consensus estimate of $86.31 million. During the same quarter in the prior year, the business earned $0.20 EPS. Innodata’s revenue was up 57.8% on a year-over-year basis. Equities analysts anticipate that Innodata Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Louise Forlenza sold 10,000 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $53.54, for a total transaction of $535,400.00. Following the completion of the transaction, the director directly owned 5,424 shares of the company’s stock, valued at approximately $290,400.96. The trade was a 64.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 11.80% of the company’s stock.

Institutional Trading of Innodata

Large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in Innodata by 23.1% in the third quarter. Nisa Investment Advisors LLC now owns 2,300 shares of the technology company’s stock worth $151,000 after acquiring an additional 431 shares during the last quarter. AMI Asset Management Corp grew its holdings in Innodata by 80.3% during the 3rd quarter. AMI Asset Management Corp now owns 9,294 shares of the technology company’s stock worth $611,000 after acquiring an additional 4,138 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Innodata by 25.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 8,920 shares of the technology company’s stock worth $586,000 after acquiring an additional 1,816 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Innodata in the 3rd quarter valued at approximately $281,000. Finally, Farther Finance Advisors LLC increased its position in shares of Innodata by 705.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,568 shares of the technology company’s stock valued at $169,000 after purchasing an additional 2,249 shares during the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Innodata Company Profile

Innodata Inc (NASDAQ: INOD) is a global data engineering and technology company that helps organizations prepare, manage and use information for digital transformation and artificial intelligence initiatives. Its services are designed to support the development, training, evaluation and deployment of AI and machine-learning systems.

The company provides data annotation and labeling, data collection and preparation, content transformation, document processing, natural-language services, and generative AI support.