Inuvo (NYSE:INUV) Shares Down 11.2% – Time to Sell?

Shares of Inuvo, Inc. (NYSE:INUV) fell 11.2% during mid-day trading on Tuesday . The stock traded as low as $3.13 and last traded at $3.54. 614,127 shares traded hands during trading, an increase of 579% from the average session volume of 90,456 shares. The stock had previously closed at $3.99.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INUV. HC Wainwright reaffirmed a “buy” rating and set a $2.00 price target on shares of Inuvo in a research note on Tuesday, May 13th. Wall Street Zen initiated coverage on shares of Inuvo in a research report on Tuesday, May 20th. They set a “hold” rating for the company.

Inuvo Stock Performance

The stock has a market capitalization of $510.66 million, a price-to-earnings ratio of -59.00 and a beta of 0.80. The company has a 50-day moving average of $0.46 and a 200-day moving average of $0.44.

Inuvo (NYSE:INUV) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Inuvo had a negative return on equity of 57.24% and a negative net margin of 10.59%. During the same period in the previous year, the business earned ($0.01) earnings per share. As a group, analysts expect that Inuvo, Inc. will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Inuvo by 9.3% in the 4th quarter. Renaissance Technologies LLC now owns 507,149 shares of the company’s stock valued at $328,000 after purchasing an additional 43,349 shares during the last quarter. Perkins Capital Management Inc. raised its position in shares of Inuvo by 3.7% in the fourth quarter. Perkins Capital Management Inc. now owns 7,083,452 shares of the company’s stock valued at $4,579,000 after buying an additional 255,590 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Inuvo by 12.6% in the fourth quarter. Geode Capital Management LLC now owns 1,203,887 shares of the company’s stock valued at $778,000 after buying an additional 134,497 shares during the last quarter. Finally, Belpointe Asset Management LLC acquired a new position in shares of Inuvo in the first quarter valued at approximately $25,000. Institutional investors and hedge funds own 29.36% of the company’s stock.

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.