Stock Traders Buy High Volume of Innodata Put Options (NASDAQ:INOD)

Innodata Inc. (NASDAQ:INOD) was the target of unusually large options trading activity on Friday. Traders purchased 25,666 put options on the company. This represents an increase of approximately 351% compared to the typical volume of 5,687 put options.

Insider Activity at Innodata

In related news, CFO Marissa B. Espineli sold 19,667 shares of Innodata stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $105.88, for a total value of $2,082,341.96. Following the completion of the sale, the chief financial officer owned 28,014 shares of the company’s stock, valued at approximately $2,966,122.32. This trade represents a 41.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jack Abuhoff sold 200,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $110.20, for a total value of $22,040,000.00. Following the completion of the sale, the chief executive officer owned 1,340,456 shares in the company, valued at $147,718,251.20. This represents a 12.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,472,885 shares of company stock worth $143,998,492. 11.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Innodata

A number of hedge funds and other institutional investors have recently bought and sold shares of INOD. Handelsbanken Fonder AB lifted its stake in Innodata by 32.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 10,300 shares of the technology company’s stock worth $778,000 after purchasing an additional 2,500 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Innodata by 72.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 24,328 shares of the technology company’s stock valued at $1,839,000 after purchasing an additional 10,257 shares during the period. City Center Advisors LLC purchased a new position in shares of Innodata during the 2nd quarter valued at $495,000. Rathbones Group PLC grew its position in shares of Innodata by 20.8% during the 1st quarter. Rathbones Group PLC now owns 144,247 shares of the technology company’s stock valued at $5,571,000 after purchasing an additional 24,837 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Innodata by 7.7% during the 1st quarter. NewEdge Advisors LLC now owns 14,292 shares of the technology company’s stock valued at $552,000 after purchasing an additional 1,023 shares in the last quarter. Institutional investors own 30.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on INOD shares. Weiss Ratings raised shares of Innodata from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Wall Street Zen raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Wedbush raised their price objective on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. BWS Financial reiterated a “buy” rating on shares of Innodata in a research note on Monday, June 15th. Finally, Zacks Research raised shares of Innodata from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of $130.00.

Innodata Stock Down 0.3%

Shares of NASDAQ INOD opened at $60.81 on Friday. Innodata has a 52 week low of $34.23 and a 52 week high of $125.14. The business has a 50-day simple moving average of $88.76 and a two-hundred day simple moving average of $62.43. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.99 billion, a P/E ratio of 54.78 and a beta of 2.89.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.34. Innodata had a return on equity of 37.49% and a net margin of 13.86%.The business had revenue of $90.10 million during the quarter, compared to analyst estimates of $76.47 million. During the same quarter in the previous year, the firm earned $0.22 EPS. The company’s quarterly revenue was up 54.5% compared to the same quarter last year. Research analysts anticipate that Innodata will post 1.14 earnings per share 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.