Inuvo Inc. (AMEX:INUV) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -4.11% to the previous day’s close as strong demand from buyers drove the stock to $0.35.
Actively observing the price movement in the last trading, the stock closed the session at $0.37, falling within a range of $0.33 and $0.38. The value of beta (5-year monthly) was 1.13. Referring to stock’s 52-week performance, its high was $0.59, and the low was $0.20. On the whole, INUV has fluctuated by 22.41% over the past month.
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With the market capitalization of Inuvo Inc. currently standing at about $45.60 million, investors are eagerly awaiting this quarter’s results, scheduled for Aug 14, 2023 – Aug 18, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.04, which is expected to increase to -$0.03 for fiscal year -$0.11 and then to about -$0.08 by fiscal year 2024.
Analysts have estimated the company’s revenue for the quarter at $15.44 million, with a low estimate of $12.5 million and a high estimate of $18.38 million. According to the average forecast, sales growth in current quarter could jump down -31.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $66.56 million, representing a decrease of -12.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that INUV’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of INUV currently trading nearly 8.79% and 12.99% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 56.22, while the 7-day volatility ratio is showing 9.82% which for the 30-day chart, stands at 9.92%. Furthermore, Inuvo Inc. (INUV)’s beta value is 1.12, and its average true range (ATR) is 0.03. The company’s stock has been forecasted to trade at an average price of $1.00 over the course of the next 52 weeks, with a low of $1.00 and a high of $1.00. Based on these price targets, the low is -185.71% off current price, whereas the price has to move -185.71% to reach the yearly target high. Additionally, analysts’ median price of $1.00 is likely to be welcomed by investors because it represents a decrease of -185.71% from the current levels.
A comparison of Inuvo Inc. (INUV) with its peers suggests the former has fared considerably weaker in the market. INUV showed an intraday change of -4.11% in last session, and over the past year, it shrunk by -26.00%%. In comparison, Avantax Inc. (AVTA) has moved lower at -1.61% on the day and was up 29.85% over the past 12 months. On the other hand, the price of Alphabet Inc. (GOOGL) has fallen -1.35% on the day. The stock, however, is off 8.44% from where it was a year ago. Additionally, there is a loss of -1.10% for eBay Inc. (EBAY) in last trading while the stock has seen an overall depriciation of -4.18%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.
Data on historical trading for Inuvo Inc. (AMEX:INUV) indicates that the trading volumes over the past 10 days have averaged 0.67 million and over the past 3 months, they’ve averaged 314.99K. According to company’s latest data on outstanding shares, there are 122.79 million shares outstanding.
Nearly 3.40% of Inuvo Inc.’s shares belong to company insiders and institutional investors own 16.10% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.73 million shares as on Apr 27, 2023, resulting in a short ratio of 3.15. According to the data, the short interest in Inuvo Inc. (INUV) stood at 0.60% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 0.69 million. The stock has risen by 60.27% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the INUV stock heading into the next quarter.