Innodata (NASDAQ:INOD) Stock Price Down 7.5% – Here’s What Happened

Innodata Inc. (NASDAQ:INOD)’s stock price traded down 7.5% on Friday . The company traded as low as $38.25 and last traded at $37.9440. 417,117 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 1,209,341 shares. The stock had previously closed at $41.00.

Analyst Ratings Changes

A number of brokerages recently issued reports on INOD. Weiss Ratings cut shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. BWS Financial reiterated a “top pick” rating and issued a $110.00 target price on shares of Innodata in a report on Friday, January 30th. Wall Street Zen raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Wedbush restated an “outperform” rating and issued a $90.00 price objective on shares of Innodata in a research report on Friday, January 30th. Finally, Zacks Research downgraded Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.00.

Innodata Stock Performance

The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 40.09 and a beta of 2.46. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $48.41 and its two-hundred day moving average is $59.05.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, February 26th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The firm had revenue of $72.38 million for the quarter, compared to the consensus estimate of $69.47 million. Innodata had a return on equity of 35.12% and a net margin of 12.79%.The company’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. Analysts expect that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innodata

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Innodata by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,840,491 shares of the technology company’s stock worth $141,847,000 after acquiring an additional 15,036 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Innodata by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 752,795 shares of the technology company’s stock valued at $38,362,000 after purchasing an additional 2,407 shares during the last quarter. State Street Corp lifted its position in shares of Innodata by 2.8% in the fourth quarter. State Street Corp now owns 711,180 shares of the technology company’s stock worth $36,235,000 after purchasing an additional 19,484 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Innodata by 8.1% in the fourth quarter. Wellington Management Group LLP now owns 571,987 shares of the technology company’s stock worth $29,143,000 after purchasing an additional 42,847 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Innodata by 24.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 441,047 shares of the technology company’s stock worth $22,473,000 after purchasing an additional 87,243 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

About Innodata

Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata’s platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.

The firm’s offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.