Inuvo, Inc. (NYSE:INUV) Sees Significant Drop in Short Interest

Key Points

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Inuvo, Inc. (NYSE:INUV - Get Free Report) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 88,100 shares, adeclineof38.3% from the July 15th total of 142,900 shares. Based on an average trading volume of 156,700 shares, the days-to-cover ratio is presently 0.6 days. Currently,0.8% of the shares of the company are sold short. Currently,0.8% of the shares of the company are sold short. Based on an average trading volume of 156,700 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Ratings Changes

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

Inuvo Stock Up 5.2%

Inuvo stock traded up $0.18 during midday trading on Friday, hitting $3.61. The company's stock had a trading volume of 99,700 shares, compared to its average volume of 124,606. Inuvo has a 12 month low of $1.90 and a 12 month high of $7.90. The company has a market capitalization of $52.69 million, a PE ratio of -60.17 and a beta of 0.81. The stock's 50-day moving average price is $4.57 and its 200-day moving average price is $4.23.

Hedge Funds Weigh In On Inuvo

Large investors have recently made changes to their positions in the business. Belpointe Asset Management LLC bought a new position in shares of Inuvo during the 1st quarter valued at about $25,000. Barden Capital Management Inc. bought a new position in shares of Inuvo during the 2nd quarter valued at about $72,000. Renaissance Technologies LLC boosted its position in shares of Inuvo by 9.3% during 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 in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Inuvo by 12.6% during the 4th quarter. Geode Capital Management LLC now owns 1,203,887 shares of the company's stock valued at $778,000 after purchasing an additional 134,497 shares in the last quarter. Institutional investors own 29.36% of the company's stock.

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.