Innodata (NASDAQ:INOD) Shares Cross Above 200 Day Moving Average – What’s Next?

Innodata Inc. (NASDAQ:INOD)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $62.95 and traded as high as $63.99. Innodata shares last traded at $62.79, with a volume of 758,680 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on INOD shares. Weiss Ratings cut Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. BWS Financial reaffirmed a “top pick” rating and issued a $140.00 price target on shares of Innodata in a research report on Friday, August 7th. Wedbush upped their price target on Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Finally, Zacks Research cut Innodata from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.00.

Innodata Price Performance

The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average price is $69.95 and its 200 day moving average price is $62.96. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 48.64 and a beta of 2.92.

Innodata (NASDAQ:INOD) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.20. The firm had revenue of $92.14 million for the quarter, compared to analyst estimates of $86.31 million. Innodata had a return on equity of 37.79% and a net margin of 14.66%.The company’s quarterly revenue was up 57.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 earnings per share. Equities research analysts predict that Innodata Inc. will post 1.18 earnings per share for the current year.

Insider Activity

In related news, CEO Jack Abuhoff sold 200,000 shares of the firm’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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ashok Mishra sold 38,666 shares of Innodata 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 in the company, valued at $9,510,686.86. This represents a 31.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 457,978 shares of company stock worth $49,413,600. Company insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On Innodata

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nykredit A S bought a new stake in Innodata in the second quarter valued at about $88,000. Ancora Advisors LLC bought a new position in Innodata during the second quarter worth about $36,000. Compass Financial Management LLC bought a new position in Innodata during the second quarter worth about $26,000. Bank of New York Mellon Corp acquired a new stake in Innodata during the second quarter valued at approximately $7,262,000. Finally, Handelsbanken Fonder AB boosted its holdings in Innodata by 32.1% during the second quarter. Handelsbanken Fonder AB now owns 10,300 shares of the technology company’s stock valued at $778,000 after purchasing an additional 2,500 shares in the last quarter. 30.75% of the stock is owned by institutional investors.

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.