Innodata (NASDAQ:INOD) Trading Down 7.5% – Should You Sell?

Innodata Inc. (NASDAQ:INOD) shares dropped 7.5% during mid-day trading on Friday . The company traded as low as $38.25 and last traded at $37.9440. Approximately 417,117 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 1,209,341 shares. The stock had previously closed at $41.00.

Wall Street Analysts Forecast Growth

INOD has been the topic of a number of research analyst reports. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of Innodata in a report on Friday, January 30th. Weiss Ratings downgraded Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. BWS Financial restated a “top pick” rating and set a $110.00 price objective on shares of Innodata in a research report on Friday, January 30th. Zacks Research cut Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Wall Street Zen upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Innodata currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Innodata Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 40.79 and a beta of 2.46. The stock’s 50 day simple moving average is $47.92 and its 200-day simple moving average is $59.02.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. The company had revenue of $72.38 million for the quarter, compared to analyst estimates of $69.47 million. Innodata had a net margin of 12.79% and a return on equity of 35.12%. Innodata’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 EPS. On average, analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Innodata

Several hedge funds have recently bought and sold shares of INOD. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Innodata in the fourth quarter worth about $26,000. Farther Finance Advisors LLC increased its holdings in shares of Innodata by 506.0% during the 4th quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock valued at $41,000 after acquiring an additional 673 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Innodata in the 3rd quarter valued at approximately $50,000. IFP Advisors Inc lifted its holdings in Innodata by 1,567.5% in the 3rd quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock worth $51,000 after purchasing an additional 627 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in Innodata in the 4th quarter worth approximately $51,000. 30.75% of the stock is owned by institutional investors and hedge funds.

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.