Inuvo (NYSE:INUV) Now Covered by StockNews.com

StockNews.com began coverage on shares of Inuvo (NYSE:INUV) in a report published on Wednesday morning. The firm issued a hold rating on the stock.

Separately, HC Wainwright began coverage on shares of Inuvo in a research note on Tuesday, March 11th. They issued a “buy” rating and a $2.00 price objective on the stock.

Inuvo Price Performance

Inuvo stock opened at $0.36 on Wednesday. The stock’s 50 day moving average is $0.43 and its 200 day moving average is $0.37. Inuvo has a one year low of $0.19 and a one year high of $0.79. The firm has a market cap of $51.66 million, a P/E ratio of -6.03 and a beta of 0.86.

Institutional Investors Weigh In On Inuvo

Several institutional investors and hedge funds have recently made changes to their positions in INUV. Geode Capital Management LLC lifted its stake in Inuvo by 7.4% in the third quarter. Geode Capital Management LLC now owns 1,069,390 shares of the company’s stock valued at $264,000 after buying an additional 73,682 shares during the period. Perkins Capital Management Inc. lifted its position in shares of Inuvo by 3.7% during the 4th quarter. Perkins Capital Management Inc. now owns 7,083,452 shares of the company’s stock valued at $4,579,000 after acquiring an additional 255,590 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Inuvo by 9.3% during the fourth 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 period. Institutional investors 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.