Inuvo (NYSEAMERICAN:INUV) Trading Up 3.5% – Here’s Why

Inuvo, Inc (NYSEAMERICAN:INUV) shares were up 3.5% during trading on Wednesday . The stock traded as high as $2.97 and last traded at $2.96. Approximately 105,461 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 98,057 shares. The stock had previously closed at $2.86.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INUV. HC Wainwright decreased their price target on Inuvo from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Maxim Group set a $12.00 price objective on Inuvo and gave the stock a “buy” rating in a research note on Monday, August 11th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $11.00.

Inuvo Price Performance

The firm has a market capitalization of $43.25 million, a P/E ratio of -9.25 and a beta of 0.94. The company’s 50 day moving average price is $3.02 and its 200 day moving average price is $3.79.

Inuvo (NYSEAMERICAN:INUV) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter. The firm had revenue of $22.57 million for the quarter. Inuvo had a negative return on equity of 35.30% and a negative net margin of 4.44%. On average, research analysts anticipate that Inuvo, Inc will post -0.02 EPS for the current fiscal year.

Institutional Trading of Inuvo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC bought a new stake in Inuvo during the 1st quarter worth about $25,000. Barden Capital Management Inc. bought a new position in shares of Inuvo in the 2nd quarter valued at about $72,000. GSA Capital Partners LLP acquired a new stake in shares of Inuvo during the 3rd quarter worth approximately $38,000. Citadel Advisors LLC raised its stake in shares of Inuvo by 533.1% during the third quarter. Citadel Advisors LLC now owns 89,432 shares of the company’s stock worth $314,000 after buying an additional 75,307 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new stake in shares of Inuvo during the third quarter worth approximately $101,000. 29.36% of the stock is currently owned by institutional investors and hedge funds.

Inuvo Company Profile

Inuvo, Inc engages in the advertising technology and services business primarily in the United States. It sells information technology solutions to brands, agencies, and large consolidators of advertising demand (platforms). Its platforms optimize the purchase and placement of advertising in real time.