StockNews.com Initiates Coverage on Inuvo (NYSE:INUV)

StockNews.com started coverage on shares of Inuvo (NYSE:INUV) in a research note issued to investors on Sunday. The firm set a “hold” rating on the stock.

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

Inuvo Trading Up 1.3 %

Shares of INUV stock opened at $0.40 on Friday. The firm has a fifty day simple moving average of $0.38 and a 200-day simple moving average of $0.39. The company has a market capitalization of $56.74 million, a PE ratio of -6.59 and a beta of 0.98. Inuvo has a twelve month low of $0.19 and a twelve month high of $0.79.

Institutional Trading of Inuvo

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Inuvo by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,069,390 shares of the company’s stock worth $264,000 after acquiring an additional 73,682 shares in the last quarter. Perkins Capital Management Inc. lifted its position in shares of Inuvo by 3.7% during the fourth quarter. Perkins Capital Management Inc. now owns 7,083,452 shares of the company’s stock worth $4,579,000 after purchasing an additional 255,590 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Inuvo by 9.3% in the fourth quarter. Renaissance Technologies LLC now owns 507,149 shares of the company’s stock worth $328,000 after purchasing an additional 43,349 shares in the last quarter. Institutional investors and hedge funds own 29.36% of the company’s stock.

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.