Innodata Inc. (NASDAQ:INOD – Get Free Report)’s share price dropped 6.3% during mid-day trading on Thursday . The stock traded as low as $77.50 and last traded at $76.4420. Approximately 323,265 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,578,557 shares. The stock had previously closed at $81.55.
Wall Street Analyst Weigh In
A number of brokerages have commented on INOD. BWS Financial restated a “buy” rating on shares of Innodata in a research note on Monday, June 15th. Wedbush lifted their price target on shares of Innodata from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Wall Street Zen upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Weiss Ratings upgraded Innodata from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and an average price target of $130.00.
Check Out Our Latest Research Report on INOD
Innodata Trading Up 1.0%
Innodata (NASDAQ:INOD – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.34. The company had revenue of $90.10 million during the quarter, compared to the consensus estimate of $76.47 million. Innodata had a net margin of 13.86% and a return on equity of 37.49%. Innodata’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, equities research analysts expect that Innodata Inc. will post 1.14 earnings per share for the current year.
Insiders Place Their Bets
In other news, COO Ashok Mishra sold 242,901 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $8,580,386.85. The trade was a 71.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jack Abuhoff sold 200,000 shares of the company’s stock in a transaction on 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,472,885 shares of company stock worth $143,998,492 over the last quarter. Company insiders own 11.80% of the company’s stock.
Institutional Trading of Innodata
Several hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Innodata in the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC lifted its position in Innodata by 506.0% during the fourth quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock valued at $41,000 after acquiring an additional 673 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Innodata during the first quarter valued at approximately $45,000. IFP Advisors Inc boosted its stake in Innodata by 1,567.5% in the third quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock valued at $51,000 after acquiring an additional 627 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in Innodata in the fourth quarter valued at approximately $51,000. 30.75% of the stock is owned by hedge funds and other institutional investors.
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.
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