Stock Traders Purchase Large Volume of Innodata Call Options (NASDAQ:INOD)

Innodata Inc. (NASDAQ:INOD) was the target of some unusual options trading on Tuesday. Stock investors bought 17,030 call options on the company. This represents an increase of 263% compared to the typical volume of 4,696 call options.

Insider Buying and Selling

In related news, Director Louise Forlenza sold 10,000 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $53.54, for a total value of $535,400.00. Following the completion of the transaction, the director directly owned 5,424 shares of the company’s stock, valued at $290,400.96. This trade represents a 64.83% 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. 11.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Glenmede Trust Co. NA lifted its holdings in Innodata by 3.5% during the first quarter. Glenmede Trust Co. NA now owns 7,336 shares of the technology company’s stock worth $283,000 after acquiring an additional 248 shares in the last quarter. Compass Financial Management LLC acquired a new position in Innodata in the second quarter valued at about $26,000. Nisa Investment Advisors LLC increased its holdings in shares of Innodata by 23.1% in the third quarter. Nisa Investment Advisors LLC now owns 2,300 shares of the technology company’s stock worth $151,000 after acquiring an additional 431 shares in the last quarter. Ancora Advisors LLC bought a new stake in shares of Innodata in the second quarter worth about $36,000. Finally, CoreCap Advisors LLC raised its position in shares of Innodata by 333.3% during the third quarter. CoreCap Advisors LLC now owns 650 shares of the technology company’s stock worth $43,000 after purchasing an additional 500 shares during the period. Institutional investors own 30.75% of the company’s stock.

Innodata Price Performance

INOD stock traded down $15.93 during trading on Tuesday, hitting $43.98. 7,802,163 shares of the stock traded hands, compared to its average volume of 1,500,222. Innodata has a one year low of $34.23 and a one year high of $125.14. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 33.24 and a beta of 2.98. The company has a 50 day simple moving average of $60.25 and a 200 day simple moving average of $61.96. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.06.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 14.66% and a return on equity of 37.79%. The company’s revenue for the quarter was up 57.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. Equities analysts expect that Innodata will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INOD has been the subject of a number of recent research reports. Zacks Research cut shares of Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Yorkville Ives initiated coverage on shares of Innodata in a research report on Monday, October 5th. They set an “outperform” rating and a $90.00 target price on the stock. Weiss Ratings cut shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Finally, BWS Financial reissued a “top pick” rating and issued a $140.00 price target on shares of Innodata in a research report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.67.

Innodata Company Profile

Innodata Inc (NASDAQ: INOD) is a global data engineering and technology company that helps organizations prepare, manage and use information for digital transformation and artificial intelligence initiatives. Its services are designed to support the development, training, evaluation and deployment of AI and machine-learning systems.

The company provides data annotation and labeling, data collection and preparation, content transformation, document processing, natural-language services, and generative AI support.