Inuvo (NYSE:INUV) Coverage Initiated at StockNews.com

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

Separately, Maxim Group raised shares of Inuvo to a “strong-buy” rating in a research note on Friday, November 8th.

Inuvo Stock Down 6.0 %

Shares of NYSE INUV opened at $0.28 on Friday. The stock’s 50-day simple moving average is $0.24 and its two-hundred day simple moving average is $0.27. Inuvo has a twelve month low of $0.19 and a twelve month high of $0.57. The firm has a market capitalization of $39.12 million, a P/E ratio of -4.64 and a beta of 1.15.

Hedge Funds Weigh In On Inuvo

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Inuvo by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,495,657 shares of the company’s stock valued at $1,874,000 after buying an additional 46,290 shares in the last quarter. Bard Associates Inc. grew its position in Inuvo by 7.1% during the third quarter. Bard Associates Inc. now owns 4,234,177 shares of the company’s stock valued at $1,044,000 after acquiring an additional 279,100 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Inuvo by 7.4% during the third 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. 29.36% of the stock is currently 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.