Inuvo, Inc. (NYSE:INUV) Short Interest Down 85.7% in May

Inuvo, Inc. (NYSE:INUV - Get Free Report) saw a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 105,100 shares, a decline of 85.7% from the May 15th total of 734,100 shares. Currently, 0.1% of the company's stock are sold short. Based on an average daily volume of 80,200 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Investors Weigh In On Inuvo

A number of hedge funds have recently made changes to their positions in INUV. Belpointe Asset Management LLC bought a new stake in Inuvo during the 1st quarter worth about $25,000. Renaissance Technologies LLC lifted its stake in Inuvo by 9.3% in the fourth quarter. Renaissance Technologies LLC now owns 507,149 shares of the company's stock valued at $328,000 after buying an additional 43,349 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 purchasing an additional 134,497 shares during the last quarter. Finally, Perkins Capital Management Inc. lifted 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 worth $4,579,000 after purchasing an additional 255,590 shares in the last quarter. Institutional investors and hedge funds own 29.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on INUV shares. Wall Street Zen began coverage on Inuvo in a report on Tuesday, May 20th. They issued a "hold" rating for the company. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Inuvo in a research report on Tuesday, May 13th.

Inuvo Stock Performance

Shares of INUV traded down $0.01 during trading hours on Friday, hitting $3.55. 93,309 shares of the company were exchanged, compared to its average volume of 94,073. The company has a market cap of $51.21 million, a PE ratio of -59.17 and a beta of 0.80. The firm's 50 day moving average is $3.99 and its 200-day moving average is $4.21. Inuvo has a 52 week low of $1.90 and a 52 week high of $7.90.

Inuvo (NYSE:INUV - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). Inuvo had a negative return on equity of 57.24% and a negative net margin of 10.59%. During the same quarter in the prior year, the business posted ($0.10) earnings per share. As a group, equities analysts forecast that Inuvo will post -0.02 earnings per share for the current fiscal year.

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.