Innodata Sees Unusually Large Options Volume (NASDAQ:INOD)

Innodata Inc. (NASDAQ:INOD) saw unusually large options trading on Friday. Stock investors purchased 25,666 put options on the company. This represents an increase of approximately 351% compared to the average daily volume of 5,687 put options.

Analysts Set New Price Targets

Several equities analysts recently weighed in on INOD shares. Wedbush increased their price target on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Wall Street Zen raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. BWS Financial reiterated a “buy” rating on shares of Innodata in a research note on Monday, June 15th. Zacks Research raised shares of Innodata from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Innodata from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Innodata has a consensus rating of “Buy” and an average price target of $130.00.

Innodata Price Performance

INOD traded up $0.62 during midday trading on Friday, hitting $61.59. 446,132 shares of the company traded hands, compared to its average volume of 1,543,745. The business has a 50 day simple moving average of $89.23 and a two-hundred day simple moving average of $62.44. Innodata has a 52-week low of $34.23 and a 52-week high of $125.14. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 55.49 and a beta of 2.89. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.07.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, May 7th. The technology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.34. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The business had revenue of $90.10 million during the quarter, compared to analysts’ expectations of $76.47 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 54.5% on a year-over-year basis. On average, equities analysts forecast that Innodata will post 1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Ashok Mishra sold 242,901 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $90.15, for a total value of $21,897,525.15. Following the completion of the transaction, the chief operating officer directly owned 95,179 shares in the company, valued at $8,580,386.85. This trade represents a 71.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jack Abuhoff sold 200,000 shares of Innodata stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $110.20, for a total value of $22,040,000.00. Following the sale, the chief executive officer directly owned 1,340,456 shares of the company’s stock, valued at $147,718,251.20. This trade represents a 12.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,472,885 shares of company stock valued at $143,998,492 in the last 90 days. 11.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Innodata

Hedge funds have recently made changes to their positions in the company. HRT Financial LP lifted its position in shares of Innodata by 746.1% in the second quarter. HRT Financial LP now owns 218,635 shares of the technology company’s stock valued at $11,198,000 after acquiring an additional 192,794 shares in the last quarter. Next Century Growth Investors LLC increased its position in shares of Innodata by 107.5% during the fourth quarter. Next Century Growth Investors LLC now owns 365,835 shares of the technology company’s stock worth $18,639,000 after purchasing an additional 189,488 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Innodata during the second quarter worth approximately $7,825,000. Dimensional Fund Advisors LP increased its position in shares of Innodata by 32.2% during the first quarter. Dimensional Fund Advisors LP now owns 583,239 shares of the technology company’s stock worth $22,517,000 after purchasing an additional 142,192 shares in the last quarter. Finally, RFG Advisory LLC acquired a new position in Innodata in the 4th quarter valued at $5,750,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.