Could InnerWorkings, Inc. (INWK) See a Reversal After Having Formed Several Months Multiple Bottom

June 19, 2018 - By Nellie Frank

InnerWorkings, Inc. (NASDAQ:INWK) Logo

Investors sentiment decreased to 1.15 in Q1 2018. Its down 0.49, from 1.64 in 2017Q4. It dropped, as 14 investors sold InnerWorkings, Inc. shares while 39 reduced holdings. 16 funds opened positions while 45 raised stakes. 43.70 million shares or 0.65% more from 43.42 million shares in 2017Q4 were reported.
D E Shaw & holds 0% or 353,663 shares. 34,587 are held by Guggenheim Cap Limited Liability Com. Buckingham Asset Ltd Co reported 10,000 shares. 6,650 were reported by Horan Capital Limited Liability Com. Jacobs Levy Equity Mngmt holds 0.03% of its portfolio in InnerWorkings, Inc. (NASDAQ:INWK) for 170,923 shares. Secor Advsr Limited Partnership has invested 0.13% of its portfolio in InnerWorkings, Inc. (NASDAQ:INWK). Deutsche Bancorp Ag owns 448,020 shares for 0% of their portfolio. Moreover, Riverbridge Ltd Liability Corporation has 0.2% invested in InnerWorkings, Inc. (NASDAQ:INWK) for 1.21M shares. Envestnet Asset Mngmt accumulated 16,607 shares. Geode Cap Mngmt Limited Com holds 0% in InnerWorkings, Inc. (NASDAQ:INWK) or 401,917 shares. Voya Investment Mgmt accumulated 0% or 26,905 shares. Blackrock has invested 0% in InnerWorkings, Inc. (NASDAQ:INWK). Spark Inv Mngmt Limited Company holds 0.06% of its portfolio in InnerWorkings, Inc. (NASDAQ:INWK) for 107,700 shares. Perritt Capital owns 403,923 shares or 1.06% of their US portfolio. Gsa Capital Prns Ltd Liability Partnership reported 16,538 shares stake.

The stock of InnerWorkings, Inc. (INWK) shows a multiple bottoms pattern with $8.57 target or 3.00 % below today’s $8.84 share price. The 6 months chart pattern indicates high risk for the $472.34M company. It was reported on Jun, 19 by Finviz.com. If the $8.57 price target is reached, the company will be worth $14.17M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.11% or $0.01 during the last trading session, reaching $8.84. About 177,637 shares traded. InnerWorkings, Inc. (NASDAQ:INWK) has declined 17.88% since June 19, 2017 and is downtrending. It has underperformed by 30.45% the S&P500.

More notable recent InnerWorkings, Inc. (NASDAQ:INWK) news were published by: Globenewswire.com which released: “SHAREHOLDER ALERT: The Law Offices of Vincent Wong Reminds Investors of Class Actions Involving Macquarie …” on June 18, 2018, also Businesswire.com with their article: “INWK INVESTOR ALERT: Law Offices of Howard G. Smith Continues Investigation on Behalf of InnerWorkings, Inc …” published on May 22, 2018, Globenewswire.com published: “INWK SHAREHOLDER ALERT: The Law Offices of Vincent Wong Notifies Investors of Commencement of a Class …” on May 22, 2018. More interesting news about InnerWorkings, Inc. (NASDAQ:INWK) were released by: Digitaljournal.com and their article: “Lawsuit for Investors in InnerWorkings, Inc. (NASDAQ: INWK) Shares Announced by Shareholders Foundation” published on May 25, 2018 as well as Globenewswire.com‘s news article titled: “INWK EQUITY ALERT: The Law Offices of Vincent Wong Reminds Investors of a Class Action Involving InnerWorkings …” with publication date: May 25, 2018.

InnerWorkings, Inc. provides marketing execution solutions in North America, Latin America, Europe, the Middle East, and Africa. The company has market cap of $472.34 million. The company's software applications and databases create an integrated solution that stores, analyzes, and tracks the production capabilities of its supplier network, as well as detailed pricing data. It has a 25.26 P/E ratio. It offers outsourced print management solutions that encompass the design, sourcing, and delivery of printed marketing materials, including direct mail, in-store signage, and marketing collateral; and outsourced solutions for the design, sourcing, and delivery of branded merchandise and product packaging.

InnerWorkings, Inc. (NASDAQ:INWK) Institutional Positions Chart

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