Inuvo (NYSE:INUV) Shares Gap Down - Here's What Happened

Inuvo, Inc. (NYSE:INUV - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $3.99, but opened at $3.84. Inuvo shares last traded at $3.58, with a volume of 514,953 shares.

Analyst Upgrades and Downgrades

INUV has been the subject of several research reports. Wall Street Zen began coverage on Inuvo in a research note on Tuesday, May 20th. They issued a "hold" rating for the company. HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Inuvo in a research note on Tuesday, May 13th.

Inuvo Trading Down 14.1%

The stock has a fifty day moving average of $0.46 and a two-hundred day moving average of $0.44. The company has a market capitalization of $438.53 million, a PE ratio of -50.67 and a beta of 0.80.

Inuvo (NYSE:INUV - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 previous year, the company earned ($0.10) EPS. Equities analysts forecast that Inuvo, Inc. will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Inuvo

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in 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 during the last quarter. Perkins Capital Management Inc. increased its position in shares of Inuvo by 3.7% during the fourth quarter. Perkins Capital Management Inc. now owns 7,083,452 shares of the company's stock valued at $4,579,000 after buying an additional 255,590 shares during the period. Geode Capital Management LLC raised its stake in 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 buying an additional 134,497 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new position in Inuvo in the first quarter worth about $25,000. Hedge funds and other 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.