Innodata Inc. (NASDAQ:INOD) Short Interest Update

Innodata Inc. (NASDAQ:INOD) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 3,870,000 shares, a drop of 14.6% from the February 13th total of 4,530,000 shares. Approximately 15.7% of the shares of the company are sold short. Based on an average daily trading volume, of 2,090,000 shares, the days-to-cover ratio is presently 1.9 days.

Innodata Trading Down 2.1 %

Innodata stock opened at $42.99 on Friday. The stock has a market cap of $1.35 billion, a P/E ratio of 50.58 and a beta of 2.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. Innodata has a 1 year low of $5.46 and a 1 year high of $71.00. The firm’s 50 day moving average price is $44.73 and its 200-day moving average price is $34.27.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company had revenue of $59.18 million for the quarter, compared to analysts’ expectations of $53.01 million. On average, equities analysts predict that Innodata will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INOD. Maxim Group lifted their price target on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 21st. Wedbush began coverage on shares of Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target on the stock. BWS Financial lifted their price target on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Chardan Capital reiterated a “buy” rating and set a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Insider Buying and Selling

In related news, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the transaction, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of Innodata stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the transaction, the director now directly owns 12,417 shares in the company, valued at $799,654.80. This represents a 94.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,427 shares of company stock valued at $17,790,794. 15.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Innodata

Several large investors have recently bought and sold shares of INOD. Principal Financial Group Inc. bought a new stake in Innodata in the third quarter worth $311,000. Charles Schwab Investment Management Inc. increased its position in Innodata by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock valued at $1,291,000 after acquiring an additional 1,843 shares during the last quarter. BNP Paribas Financial Markets increased its position in Innodata by 38.5% during the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after acquiring an additional 3,739 shares during the last quarter. Centiva Capital LP bought a new position in Innodata during the third quarter valued at $318,000. Finally, Point72 Asset Management L.P. bought a new position in Innodata during the third quarter valued at $206,000. Institutional investors own 30.75% of the company’s stock.

About Innodata

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.