Inuvo, Inc. (NYSE:INUV) Sees Large Increase in Short Interest

Key Points

• Inuvo, Inc. experienced a significant increase in short interest, with an increase of 39.4% from July to August, totaling 122,800 shares as of August 15th.
• The company’s stock price rose by 4.8%, reaching $3.52, with a market capitalization of $51.38 million and a P/E ratio of -58.67.
• Hedge funds have shown interest in Inuvo, with Belpointe Asset Management acquiring 70,000 shares, and analysts maintaining a consensus rating of "Buy" with a price target of $13.50.

Inuvo, Inc. (NYSE:INUV - Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totaling 122,800 shares, anincreaseof39.4% from the July 31st total of 88,100 shares. Approximately1.0% of the company's stock are sold short. Based on an average daily volume of 144,200 shares, the short-interest ratio is currently 0.9 days. Based on an average daily volume of 144,200 shares, the short-interest ratio is currently 0.9 days. Approximately1.0% of the company's stock are sold short.

Inuvo Trading Up 4.8%

NYSE INUV traded up $0.16 during trading on Monday, hitting $3.52. 172,652 shares of the company traded hands, compared to its average volume of 122,231. Inuvo has a 12 month low of $1.90 and a 12 month high of $7.90. The business has a fifty day simple moving average of $4.49 and a 200 day simple moving average of $4.12. The company has a market capitalization of $51.38 million, a P/E ratio of -58.67 and a beta of 0.95.

Hedge Funds Weigh In On Inuvo

A hedge fund recently bought a new stake in Inuvo stock. Belpointe Asset Management LLC bought a new stake in shares of Inuvo, Inc. (NYSE:INUV - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 70,000 shares of the company's stock, valued at approximately $25,000. Institutional investors and hedge funds own 29.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen assumed coverage on Inuvo in a research report on Tuesday, May 20th. They set a "hold" rating for the company. HC Wainwright lifted their price objective on Inuvo from $2.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Finally, Maxim Group set a $12.00 price objective on Inuvo and gave the company a "buy" rating in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Inuvo currently has a consensus rating of "Buy" and an average price target of $13.50.

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.

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