Inuvo (NYSE:INUV) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Inuvo (NYSE:INUV) in a report released on Saturday. The brokerage issued a hold rating on the stock.

Separately, HC Wainwright initiated coverage on shares of Inuvo in a research report on Tuesday, March 11th. They set a “buy” rating and a $2.00 price target for the company.

Inuvo Price Performance

NYSE:INUV opened at $0.39 on Friday. Inuvo has a 1-year low of $0.19 and a 1-year high of $0.79. The company has a 50-day moving average of $0.39 and a 200 day moving average of $0.38. The firm has a market cap of $55.49 million, a PE ratio of -6.48 and a beta of 0.91.

Institutional Trading of Inuvo

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of Inuvo by 9.3% in the 4th quarter. Renaissance Technologies LLC now owns 507,149 shares of the company’s stock valued at $328,000 after purchasing an additional 43,349 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Inuvo by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,069,390 shares of the company’s stock valued at $264,000 after purchasing an additional 73,682 shares during the last quarter. Finally, Perkins Capital Management Inc. raised its position in shares of Inuvo by 3.7% in the 4th quarter. Perkins Capital Management Inc. now owns 7,083,452 shares of the company’s stock valued at $4,579,000 after purchasing an additional 255,590 shares during the last quarter. 29.36% of the stock is owned by hedge funds and other institutional investors.

About Inuvo

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.