Innodata (NASDAQ:INOD) Sees Large Volume Increase – Time to Buy?

Shares of Innodata Inc. (NASDAQ:INOD) saw unusually-high trading volume on Tuesday . Approximately 508,362 shares traded hands during trading, a decline of 54% from the previous session’s volume of 1,100,448 shares.The stock last traded at $39.99 and had previously closed at $43.76.

Analyst Ratings Changes

A number of equities analysts recently issued reports on INOD shares. Wedbush began coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target for the company. Craig Hallum initiated coverage on Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price for the company. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. BWS Financial increased their price objective on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Chardan Capital restated a “buy” rating and set a $45.00 target price on shares of Innodata in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Innodata currently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Innodata Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50 day moving average price of $39.02 and a 200 day moving average price of $24.63. The stock has a market capitalization of $1.07 billion, a PE ratio of 62.31 and a beta of 2.59.

Insider Buying and Selling at Innodata

In other news, CEO Jack Abuhoff sold 225,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $46.38, for a total value of $10,435,500.00. Following the completion of the transaction, the chief executive officer now owns 1,188,358 shares in the company, valued at $55,116,044.04. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stewart R. Massey sold 50,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 25,262 shares in the company, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,035,083 shares of company stock worth $46,889,370. 15.23% of the stock is owned by corporate insiders.

Institutional Trading of Innodata

A number of large investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new position in Innodata in the third quarter worth about $206,000. BNP Paribas Financial Markets lifted its stake in shares of Innodata by 38.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after purchasing an additional 3,739 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Innodata by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company’s stock worth $242,000 after buying an additional 2,099 shares during the last quarter. Private Advisor Group LLC grew its position in Innodata by 17.4% during the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after buying an additional 2,207 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in Innodata during the third quarter valued at approximately $311,000. 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.