Key Points
- Innodata director Louise Forlenza sold 10,000 shares at an average price of $53.54, generating $535,400. The transaction reduced her direct holdings by 64.83% to 5,424 shares.
- Innodata shares opened at $54.37 and were down 1.6%, with the stock trading well below its 50-day and 200-day moving averages. The company has a $1.87 billion market capitalization and a 52-week range of $34.23 to $125.14.
- The company reported strong quarterly results, including EPS of $0.41 versus the $0.21 consensus estimate and revenue growth of 57.8% year over year. Analysts maintain a consensus “Moderate Buy” rating with a $130 price target, although some firms recently downgraded the stock to “Hold.”
Innodata Inc. (NASDAQ:INOD - Get Free Report) Director Louise Forlenza sold 10,000 shares of the business's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $53.54, for a total transaction of $535,400.00. Following the completion of the sale, the director directly owned 5,424 shares in the company, valued at $290,400.96. This trade represents a 64.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Innodata Stock Down 1.6%
NASDAQ INOD opened at $54.37 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.06. The stock's 50 day moving average is $60.59 and its two-hundred day moving average is $64.18. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 41.19 and a beta of 2.88. Innodata Inc. has a 1-year low of $34.23 and a 1-year high of $125.14.
Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.20. The firm had revenue of $92.14 million during 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 business's revenue for the quarter was up 57.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 earnings per share. Equities analysts forecast that Innodata Inc. will post 1.18 earnings per share for the current fiscal year.
Institutional Trading of Innodata
Large investors have recently made changes to their positions in the business. Compass Financial Management LLC bought a new position in shares of Innodata in the second quarter valued at about $26,000. Ancora Advisors LLC bought a new stake in Innodata during the 2nd quarter worth about $36,000. Fifth Third Bancorp bought a new stake in Innodata during the 1st quarter worth about $45,000. Leonteq Securities AG acquired a new stake in Innodata in the 4th quarter valued at about $51,000. Finally, IFP Advisors Inc increased its position in Innodata by 74.8% in the 4th quarter. IFP Advisors Inc now owns 1,166 shares of the technology company's stock valued at $59,000 after acquiring an additional 499 shares in the last quarter. Institutional investors own 30.75% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. BWS Financial reissued a "top pick" rating and set a $140.00 price target on shares of Innodata in a report on Friday, August 7th. Wedbush upped their price objective on shares of Innodata from $100.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, June 4th. Weiss Ratings lowered shares of Innodata from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 31st. Finally, Zacks Research cut shares of Innodata from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Innodata has a consensus rating of "Moderate Buy" and a consensus price target of $130.00.
Read Our Latest Analysis on INOD
Innodata Company Profile
(
Get Free Report)
Innodata Inc is a global data engineering and artificial intelligence services company that helps organizations prepare, manage and use data for digital applications. Its services support the development and deployment of machine learning and generative artificial intelligence systems, including data collection, annotation, labeling, curation, evaluation and model testing.
The company also provides content transformation and information management services. These offerings can include converting and structuring complex content, improving data quality, automating business processes and developing customized data workflows.
Further Reading
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