Inuvo (NYSE:INUV) Stock Price Down 11.2% - Here's Why

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on INUV shares. 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 reaffirmed a "buy" rating and set a $20.00 price objective on shares of Inuvo in a research note on Tuesday, May 13th.

Inuvo Trading Up 13.5%

The company has a market capitalization of $497.67 million, a PE ratio of -57.50 and a beta of 0.80. The business has a fifty day moving average of $3.97 and a 200 day moving average of $4.19.

Inuvo (NYSE:INUV - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.10). Inuvo had a negative net margin of 10.59% and a negative return on equity of 57.24%. During the same quarter last year, the firm posted ($0.10) EPS. Equities analysts forecast that Inuvo, Inc. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Inuvo

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Perkins Capital Management Inc. increased its stake in shares of Inuvo by 3.7% during the 4th 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. 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 worth $778,000 after acquiring an additional 134,497 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 acquiring an additional 43,349 shares in the last quarter. Finally, Belpointe Asset Management LLC purchased a new stake in Inuvo during the 1st quarter worth about $25,000. 29.36% of the stock is currently owned by hedge funds and other institutional investors.

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.