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InnerWorkings(INWK - Get Report) is a provider of managed print and promotional procurement solutions to corporate clients across a range of industries. This stock is trading up 5% at $9.77 in recent trading after hitting a 52-week of $9.89 earlier in the day.
Today's Range: $9.30-$9.89
52-week Range: $6.07-$9.89
Three-Month Average Volume: 184,091
InnerWorkings has a market cap of $454.11 million. The stock trades at a trailing price-to-earnings of 37.91. The current short interest as a percentage of the float for InnerWorkings is very large at 20.6%.
This stock is ripping higher today after the company raised its 2011 revenue guidance from a range of $600 million to $625 million to a range of $620 million to $635 million and raised its 2011 earnings per share guidance from a range of 29 cents to 32 cents per share to a range of 30 cents to 33 cents per share.
From a technical standpoint, this stock is triggering a major breakout today now that shares are moving above some near-term overhead resistance at around $9.67 a share on heavy volume. Traders should now look for INWK to continue this uptrend with a close above $9.67. I would target a run back towards the next significant overhead resistance level which sits at $12 to $16 a share.
-- Written by Roberto Pedone in Winderemere, Fla.