Innodata (NASDAQ:INOD) Shares Gap Up – What’s Next?

Innodata Inc. (NASDAQ:INOD) gapped up before the market opened on Monday . The stock had previously closed at $36.75, but opened at $40.64. Innodata shares last traded at $42.61, with a volume of 974,637 shares trading hands.

Analysts Set New Price Targets

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

Innodata Stock Up 7.8 %

The company has a market capitalization of $1.30 billion, a PE ratio of 75.73 and a beta of 2.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The company’s 50-day moving average is $20.84 and its 200 day moving average is $17.29.

Insider Activity

In other Innodata news, COO Ashok Mishra sold 92,726 shares of Innodata stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total value of $4,002,054.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stewart R. Massey sold 50,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total value of $2,027,500.00. Following the transaction, the director now directly owns 25,262 shares in the company, valued at approximately $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. Corporate insiders own 15.23% of the company’s stock.

Institutional Investors Weigh In On Innodata

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its position in Innodata by 11.2% during the first quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock valued at $147,000 after purchasing an additional 2,230 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Innodata by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after buying an additional 28,173 shares during the period. Elkhorn Partners Limited Partnership purchased a new position in shares of Innodata in the 1st quarter worth $94,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Innodata by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after acquiring an additional 982 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in Innodata during the first quarter valued at $8,142,000. 30.75% of the stock is currently owned by institutional investors.

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.