Inuvo (NYSE:INUV) moved -0.14% to recent value of $0.21. The stock transacted 473563 shares during most recent day however it has an average volume of 482.87K shares. It spotted trading -87.99% off 52-week high price. On the other end, the stock has been noted 127.00% away from the low price over the last 52-weeks.
On March 27, 2020, Inuvo (NYSE American:INUV) completed the sale of an aggregate of 3,115,000 shares of its common stock at a price of $0.175 per share to purchasers in a registered direct offering without an underwriter or placement agent. Inuvo raised approximately $535,125 in this offering after deducting estimated expenses incurred in connection with the offering.
Inuvo plans to use the net proceeds from the offering for working capital.
More information about the offering, as well as a copy of the form of Subscription Agreement associated with the offering, can be found in Inuvo’s Current Report on Form 8-K that was filed with the Securities and Exchange Commission (SEC) on March 27, 2020 and in the Prospectus Supplement that was filed with the SEC on March 26, 2020.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Inuvo in the offering or otherwise. There shall not be any offer, solicitation of an offer to buy, or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
INUV has a gross margin of 58.10% and an operating margin of -12.40% while its profit margin remained -13.40% for the last 12 months. Its earnings per share (EPS) expected to touch remained -17.40% for this year while earning per share for the next 5-years is expected to reach at 30.00%.
The company has 49.05M of outstanding shares and 34.21M shares were floated in the market. According to the most recent quarter its current ratio was 0.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of -5.66% from the mean of 20 days, -24.20% from mean of 50 days SMA and performed -29.27% from mean of 200 days price. Company’s performance for the week was 10.63%, -20.65% for month and YTD performance remained -28.91%.