The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Innodata Inc. shares valued at $457,968 were sold by Toor Nauman Sabeeh on May 22. At $10.01 per share, Toor Nauman Sabeeh sold 45,751 shares. The insider’s holdings dropped to 1,190,467 shares worth approximately $11.57 million following the completion of this transaction.
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Also, Espineli Marissa B sold 5,000 shares, netting a total of over 50,000 in proceeds. Following the sale of shares at $10.00 each, the insider now holds 0 shares.
Before that, Toor Nauman Sabeeh had sold 4,249 shares from its account. In a trade valued at $42,490, the Director traded Innodata Inc. shares for $10.00 each. Upon closing the transaction, the insider’s holdings decreased to 4,249 shares, worth approximately $12.02 million.
Analyzing INOD Stock Performance
On Thursday, Innodata Inc. [NASDAQ: INOD] rose 10.33% to $9.72. The stock’s lowest price that day was $8.8156, but it reached a high of $9.89 in the same session. During the last five days, there has been a drop of approximately -2.80%. Over the course of the year, Innodata Inc. shares have jumped approximately 227.82%. Shares of the company reached a 52-week high of $10.90 on 05/23/23 and a 52-week low of $2.96 on 01/05/23. A 50-day SMA is recorded $7.91, while a 200-day SMA reached $4.96. Nevertheless, trading volume fell to 0.67 million shares from 0.32 million shares the previous day.
Support And Resistance Levels for Innodata Inc. (INOD)
According to the 24-hour chart, there is a support level at 9.06, which, if violated, would cause prices to drop to 8.40. In the upper region, resistance lies at 10.13. The next price resistance is at 10.55. RSI (Relative Strength Index) is 58.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.45, which suggests the price will decrease in the coming days. Percent R is at 28.78%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Innodata Inc. subject to short interest?
Stocks of Innodata Inc. saw a sharp rise in short interest on May 14, 2023 jumping by 0.36 million shares to 0.75 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 0.39 million shares. A jump of 47.5% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.74 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.74.
Which companies own the most shares of Innodata Inc. (INOD)?
According to Luzich Partners LLC filings, the company currently owns 1,573,473 shares, which is about 5.74% of the total INOD shares outstanding. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $7,722,859. Renaissance Technologies LLC reduced a -0.68% interest valued at $5.62 million while BlackRock Fund Advisors sold a -21,913 stake. A total of -34,730 shares of Innodata Inc. were sold by Dimensional Fund Advisors LP during the quarter, and 8,401 were bought by Geode Capital Management LLC. In its current portfolio, Susquehanna Financial Group LLLP holds 194,511 shares valued at $1.29 million.
In terms of Innodata Inc. share price expectations, FactSet research, analysts set an average price target of $5.00 in the next 12 months, down nearly -43.25% from the previous closing price of $8.81. Analysts anticipate Innodata Inc. stock to reach $5.00 by 2023, with the lowest price target being $5.00. In spite of this, 1 analysts ranked Innodata Inc. stock as a Hold at the end of 2023.