Innodata (NASDAQ:INOD) Shares Down 6.3% – Here’s What Happened

Innodata Inc. (NASDAQ:INOD)’s stock price was down 6.3% during mid-day trading on Thursday . The company traded as low as $77.50 and last traded at $76.4420. 323,265 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 1,578,557 shares. The stock had previously closed at $81.55.

Analysts Set New Price Targets

A number of research firms have issued reports on INOD. BWS Financial reiterated a “buy” rating on shares of Innodata in a report on Monday, June 15th. Weiss Ratings upgraded shares of Innodata from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 3rd. Wall Street Zen upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Wedbush raised their target price on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. One equities research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.00.

Innodata Stock Down 11.0%

The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.37 billion, a P/E ratio of 64.88 and a beta of 2.83. The firm has a 50 day simple moving average of $80.95 and a two-hundred day simple moving average of $60.53.

Innodata (NASDAQ:INOD) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.34. The business had revenue of $90.10 million for the quarter, compared to analyst estimates of $76.47 million. Innodata had a return on equity of 37.49% and a net margin of 13.86%.Innodata’s revenue was up 54.5% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share. On average, equities research analysts expect that Innodata Inc. will post 1.14 earnings per share for the current year.

Insider Transactions at Innodata

In related news, COO Ashok Mishra sold 38,666 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $114.34, for a total transaction of $4,421,070.44. Following the sale, the chief operating officer owned 83,179 shares of the company’s stock, valued at $9,510,686.86. This trade represents a 31.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Louise C. Forlenza sold 18,000 shares of Innodata stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $94.47, for a total value of $1,700,460.00. Following the sale, the director directly owned 3,943 shares in the company, valued at $372,495.21. The trade was a 82.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,472,885 shares of company stock worth $143,998,492. Insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On Innodata

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rathbones Group PLC boosted its stake in shares of Innodata by 20.8% in the 1st quarter. Rathbones Group PLC now owns 144,247 shares of the technology company’s stock valued at $5,571,000 after purchasing an additional 24,837 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Innodata by 7.7% during the 1st quarter. NewEdge Advisors LLC now owns 14,292 shares of the technology company’s stock worth $552,000 after purchasing an additional 1,023 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Innodata by 3.5% in the first quarter. Glenmede Trust Co. NA now owns 7,336 shares of the technology company’s stock valued at $283,000 after acquiring an additional 248 shares during the period. Bank of America Corp DE grew its position in Innodata by 156.3% in the 1st quarter. Bank of America Corp DE now owns 102,268 shares of the technology company’s stock valued at $3,950,000 after purchasing an additional 62,361 shares during the period. Finally, H&H International Investment LLC acquired a new position in shares of Innodata during the first quarter valued at about $386,000. 30.75% of the stock is owned by institutional investors and hedge funds.

Innodata Company Profile

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.