Innodata Inc. (NASDAQ:INOD) Short Interest Down 14.6% in February

Innodata Inc. (NASDAQ:INOD) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 3,870,000 shares, a decrease of 14.6% from the February 13th total of 4,530,000 shares. Based on an average daily volume of 2,090,000 shares, the short-interest ratio is currently 1.9 days. Currently, 15.7% of the shares of the company are sold short.

Insider Activity

In related news, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the sale, the chief financial officer now owns 18,000 shares of the company’s stock, valued at $1,171,620. This trade represents a 62.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the completion of the sale, the director now directly owns 12,417 shares in the company, valued at approximately $799,654.80. This trade represents a 94.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 385,634 shares of company stock valued at $22,639,902. Company insiders own 15.23% of the company’s stock.

Institutional Investors Weigh In On Innodata

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. lifted its holdings in 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 valued at $37,331,000 after purchasing an additional 892,663 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of Innodata in the fourth quarter valued at approximately $16,713,000. JPMorgan Chase & Co. lifted its stake in Innodata by 2,038.4% in the 4th quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company’s stock worth $12,176,000 after purchasing an additional 293,687 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Innodata in the 4th quarter worth approximately $11,283,000. Finally, Ameriprise Financial Inc. lifted its stake in Innodata by 322.9% in the 4th 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 owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INOD has been the subject of several analyst reports. BWS Financial upped their target price on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Chardan Capital reaffirmed a “buy” rating and set a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Wedbush assumed coverage on Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price on the stock. Finally, Maxim Group increased their target price on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Innodata Trading Up 6.3 %

NASDAQ:INOD traded up $2.61 during trading hours on Wednesday, hitting $43.99. The stock had a trading volume of 609,834 shares, compared to its average volume of 1,156,954. Innodata has a one year low of $5.46 and a one year high of $71.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 51.82 and a beta of 2.59. The business’s 50 day moving average is $44.46 and its 200-day moving average is $34.14.

Innodata (NASDAQ:INOD) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The firm had revenue of $59.18 million for the quarter, compared to analyst estimates of $53.01 million. Sell-side analysts anticipate that Innodata will post 0.81 EPS for the current fiscal year.

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.