Innodata (NASDAQ:INOD) Sees Strong Trading Volume – What’s Next?

Innodata Inc. (NASDAQ:INOD) shares saw unusually-strong trading volume on Thursday . Approximately 1,256,291 shares were traded during mid-day trading, an increase of 75% from the previous session’s volume of 719,225 shares.The stock last traded at $46.91 and had previously closed at $44.45.

Analysts Set New Price Targets

INOD has been the topic of several research reports. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Craig Hallum initiated coverage on shares of Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price objective on the stock. Finally, BWS Financial upped their price target on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.67.

Innodata Stock Up 4.0 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The firm’s fifty day moving average price is $22.03 and its two-hundred day moving average price is $17.75. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 75.34 and a beta of 2.30.

Insider Transactions at Innodata

In other news, COO Ashok Mishra sold 92,726 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total transaction of $4,002,054.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the transaction, the director now directly owns 25,262 shares of the company’s stock, valued at $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.23% of the stock is owned by insiders.

Institutional Trading of Innodata

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of Innodata by 324.3% during the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock valued at $647,000 after acquiring an additional 29,470 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Innodata by 2.3% in the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after acquiring an additional 13,609 shares during the period. State Street Corp increased its holdings in Innodata by 1.8% during the third quarter. State Street Corp now owns 537,301 shares of the technology company’s stock valued at $9,011,000 after buying an additional 9,408 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Innodata in the third quarter worth about $206,000. Finally, Centiva Capital LP bought a new position in Innodata in the 3rd quarter worth approximately $318,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.