Innodata Target of Unusually Large Options Trading (NASDAQ:INOD)

Innodata Inc. (NASDAQ:INOD) was the target of some unusual options trading on Friday. Investors bought 13,935 call options on the company. This is an increase of approximately 444% compared to the average daily volume of 2,560 call options.

Innodata Stock Up 25.3 %

INOD traded up $13.83 during trading hours on Friday, reaching $68.39. 3,502,274 shares of the stock traded hands, compared to its average volume of 1,655,662. Innodata has a fifty-two week low of $5.46 and a fifty-two week high of $70.15. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 114.19 and a beta of 2.57. 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 firm’s fifty day simple moving average is $41.05 and its two-hundred day simple moving average is $29.81.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 44.38% and a net margin of 14.57%. The company had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. As a group, analysts forecast that Innodata will post 0.62 earnings per share for the current fiscal year.

Insider Activity

In other Innodata news, Director Nauman Sabeeh Toor sold 110,207 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the transaction, the director now owns 209,194 shares of the company’s stock, valued at $9,204,536. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Louise C. Forlenza sold 4,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.10, for a total value of $180,400.00. Following the completion of the transaction, the director now directly owns 8,278 shares in the company, valued at $373,337.80. This trade represents a 32.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 559,806 shares of company stock valued at $25,353,904 over the last quarter. Company insiders own 15.23% of the company’s stock.

Institutional Investors Weigh In On Innodata

Several hedge funds and other institutional investors have recently bought and sold shares of the business. D. E. Shaw & Co. Inc. grew its position in shares of Innodata by 1,718.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock worth $37,331,000 after buying an additional 892,663 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Innodata in the 4th quarter worth about $16,713,000. JPMorgan Chase & Co. raised its stake in shares of Innodata by 2,038.4% in the 4th quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company’s stock valued at $12,176,000 after purchasing an additional 293,687 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Innodata during the fourth quarter worth about $11,283,000. Finally, Ameriprise Financial Inc. grew its stake in Innodata by 322.9% in the fourth quarter. Ameriprise Financial Inc. now owns 318,096 shares of the technology company’s stock worth $13,649,000 after purchasing an additional 242,871 shares in the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. BWS Financial raised 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. Chardan Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of Innodata in a research 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. Finally, Wedbush began coverage on shares of Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

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.