Innodata (NASDAQ:INOD) Shares Up 17% Following Analyst Upgrade

Shares of Innodata Inc. (NASDAQ:INOD) were up 17% during mid-day trading on Monday after BWS Financial upgraded the stock from a buy rating to a top pick rating. BWS Financial now has a $110.00 price target on the stock. Innodata traded as high as $59.88 and last traded at $62.0020. Approximately 638,772 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 663,898 shares. The stock had previously closed at $52.99.

INOD has been the subject of several other reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Innodata in a research report on Monday, December 29th. Wedbush increased their price target on Innodata from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, Zacks Research downgraded shares of Innodata from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $91.67.

Insider Activity at Innodata

In other news, Director Louise C. Forlenza sold 8,278 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $65.00, for a total transaction of $538,070.00. Following the transaction, the director directly owned 3,943 shares of the company’s stock, valued at $256,295. This represents a 67.74% 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 link. Also, COO Ashok Mishra sold 200,000 shares of Innodata stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $61.39, for a total transaction of $12,278,000.00. Following the completion of the sale, the chief operating officer directly owned 60,000 shares of the company’s stock, valued at approximately $3,683,400. The trade was a 76.92% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 236,372 shares of company stock valued at $14,572,507. Corporate insiders own 12.20% of the company’s stock.

Hedge Funds Weigh In On Innodata

Several large investors have recently added to or reduced their stakes in INOD. Jump Financial LLC boosted its stake in Innodata by 1,058.5% during the 2nd quarter. Jump Financial LLC now owns 391,200 shares of the technology company’s stock valued at $20,037,000 after purchasing an additional 357,433 shares during the last quarter. HRT Financial LP boosted its position in shares of Innodata by 746.1% during the second quarter. HRT Financial LP now owns 218,635 shares of the technology company’s stock valued at $11,198,000 after buying an additional 192,794 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Innodata during the second quarter valued at approximately $7,825,000. Soros Capital Management LLC bought a new stake in Innodata during the third quarter worth $7,514,000. Finally, AQR Capital Management LLC raised its position in Innodata by 446.4% in the 1st quarter. AQR Capital Management LLC now owns 90,968 shares of the technology company’s stock valued at $3,266,000 after buying an additional 74,320 shares during the last quarter. Institutional investors own 30.75% of the company’s stock.

Innodata Price Performance

The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average of $58.29 and a 200 day moving average of $57.02. The firm has a market capitalization of $1.95 billion, a PE ratio of 63.74 and a beta of 2.43.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, November 6th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.10. Innodata had a net margin of 14.11% and a return on equity of 41.67%. The firm had revenue of $62.55 million during the quarter, compared to analyst estimates of $59.78 million. The company’s revenue was up 19.8% on a year-over-year basis. As a group, research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal year.

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.