Inuvo, Inc (NYSEAMERICAN:INUV) Short Interest Update

Inuvo, Inc (NYSEAMERICAN:INUV) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 44,200 shares, a decrease of 29.6% from the September 30th total of 62,800 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 124,300 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 124,300 shares, the short-interest ratio is presently 0.4 days. Approximately 0.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Maxim Group set a $12.00 target price on Inuvo and gave the stock a “buy” rating in a research report on Monday, August 11th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Inuvo has a consensus rating of “Buy” and an average target price of $13.50.

Institutional Investors Weigh In On Inuvo

A hedge fund recently bought a new stake in Inuvo stock. Belpointe Asset Management LLC acquired a new stake in shares of Inuvo, Inc (NYSEAMERICAN:INUV) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 70,000 shares of the company’s stock, valued at approximately $25,000. 29.36% of the stock is currently owned by hedge funds and other institutional investors.

Inuvo Price Performance

Shares of NYSEAMERICAN:INUV traded down $0.10 on Monday, reaching $2.90. 66,067 shares of the company traded hands, compared to its average volume of 115,832. Inuvo has a fifty-two week low of $1.90 and a fifty-two week high of $7.90. The company’s 50 day moving average is $3.40 and its 200-day moving average is $4.00. The stock has a market capitalization of $42.34 million, a PE ratio of -9.67 and a beta of 0.87.

About Inuvo

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.