Inuvo (NYSE:INUV) Trading Down 0.6% - Time to Sell?

Key Points

• Inuvo's stock (NYSE:INUV) experienced a slight decline of 0.6%, trading at $3.49 after reaching a low of $3.42 during the day.
• Analysts have set a new average price target of $13.50 for Inuvo, with HC Wainwright increasing their target to $15.00 and Maxim Group setting a $12.00 target, both maintaining a "buy" rating.
• An institutional investor, Belpointe Asset Management, recently acquired a new stake of 70,000 shares in Inuvo, indicating growing interest from institutional investors, who currently own 29.36% of the company's stock.

Inuvo, Inc. (NYSE:INUV - Get Free Report)'s stock price was down 0.6% on Wednesday . The stock traded as low as $3.42 and last traded at $3.49. Approximately 199,616 shares were traded during mid-day trading, an increase of 62% from the average daily volume of 123,239 shares. The stock had previously closed at $3.51.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on INUV shares. HC Wainwright increased their price objective on shares of Inuvo from $2.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. 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. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $13.50.

Inuvo Stock Performance

The stock has a market capitalization of $50.94 million, a P/E ratio of -58.17 and a beta of 0.95. The company's 50-day moving average price is $3.96 and its 200 day moving average price is $4.09.

Hedge Funds Weigh In On Inuvo

An institutional investor recently bought a new position in Inuvo stock. Belpointe Asset Management LLC bought a new stake in shares of Inuvo, Inc. (NYSE:INUV - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 70,000 shares of the company's stock, valued at approximately $25,000. Institutional investors own 29.36% of the company's stock.

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.

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