Innodata (NASDAQ:INOD) Stock Price Down 8.4% – What’s Next?

Innodata Inc. (NASDAQ:INOD)’s share price fell 8.4% on Thursday . The stock traded as low as $91.27 and last traded at $93.9110. 367,097 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,592,325 shares. The stock had previously closed at $102.52.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INOD. BWS Financial reissued a “buy” rating on shares of Innodata in a research report on Monday. Wall Street Zen raised shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Wedbush lifted their target price on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings raised shares of Innodata from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.00.

Innodata Price Performance

The stock’s 50-day moving average is $75.73 and its 200 day moving average is $59.40. The stock has a market capitalization of $3.10 billion, a PE ratio of 85.53 and a beta of 2.83. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.07.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.34. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The firm had revenue of $90.10 million for the quarter, compared to the consensus estimate of $76.47 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue was up 54.5% on a year-over-year basis. As a group, equities analysts predict that Innodata Inc. will post 1.14 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Ashok Mishra sold 242,901 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $90.15, for a total transaction of $21,897,525.15. Following the transaction, the chief operating officer directly owned 95,179 shares of the company’s stock, valued at approximately $8,580,386.85. The trade was a 71.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jack Abuhoff sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $110.20, for a total transaction of $22,040,000.00. Following the transaction, the chief executive officer directly owned 1,340,456 shares in the company, valued at $147,718,251.20. The trade was a 12.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,472,885 shares of company stock worth $143,998,492 over the last ninety days. 11.80% of the stock is currently owned by insiders.

Institutional Trading of Innodata

Several large investors have recently added to or reduced their stakes in INOD. Northwestern Mutual Wealth Management Co. bought a new stake in Innodata in the fourth quarter worth approximately $26,000. Farther Finance Advisors LLC grew its position in Innodata by 506.0% in the fourth quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock worth $41,000 after acquiring an additional 673 shares in the last quarter. Fifth Third Bancorp bought a new stake in Innodata in the first quarter worth approximately $45,000. IFP Advisors Inc grew its position in Innodata by 1,567.5% in the third quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock worth $51,000 after acquiring an additional 627 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in Innodata in the fourth quarter worth approximately $51,000. 30.75% of the stock is owned by institutional investors.

About Innodata

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.