Innodata (NASDAQ:INOD) Hits New 1-Year High – What’s Next?

Innodata Inc. (NASDAQ:INOD)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $62.32 and last traded at $59.52, with a volume of 3240734 shares traded. The stock had previously closed at $58.09.

Analysts Set New Price Targets

INOD has been the topic of several recent analyst reports. Chardan Capital reiterated a “buy” rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th. StockNews.com raised shares of 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 research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price for the company. Finally, BWS Financial upped 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Innodata Price Performance

The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 100.88 and a beta of 2.57. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $40.66 and its 200-day moving average price is $29.64.

Insider Activity

In related news, COO Ashok Mishra sold 58,500 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total value of $2,630,745.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jack Abuhoff sold 187,099 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.07, for a total value of $8,619,650.93. Following the completion of the sale, the chief executive officer now owns 1,188,358 shares in the company, valued at approximately $54,747,653.06. This represents a 13.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 559,806 shares of company stock worth $25,353,904. 15.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. acquired a new position in Innodata in the third quarter valued at approximately $311,000. Jennison Associates LLC acquired a new position in shares of Innodata in the 4th quarter valued at $402,000. Los Angeles Capital Management LLC purchased a new position in shares of Innodata in the 3rd quarter valued at $330,000. Geode Capital Management LLC raised its stake in Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after acquiring an additional 13,609 shares in the last quarter. Finally, Silverleafe Capital Partners LLC purchased a new stake in Innodata in the fourth quarter valued at $913,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

About Innodata

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.