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

Research analysts at StockNews.com initiated coverage on shares of Inuvo (NYSE:INUV) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the stock.

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

Inuvo Price Performance

INUV stock opened at $0.42 on Tuesday. The company’s 50 day simple moving average is $0.45 and its 200-day simple moving average is $0.36. Inuvo has a 52-week low of $0.19 and a 52-week high of $0.79. The firm has a market capitalization of $60.16 million, a P/E ratio of -7.02 and a beta of 0.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Perkins Capital Management Inc. boosted its stake 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 buying an additional 255,590 shares during the period. Geode Capital Management LLC raised its holdings in shares of Inuvo by 12.6% during the fourth quarter. Geode Capital Management LLC now owns 1,203,887 shares of the company’s stock worth $778,000 after acquiring an additional 134,497 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in 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 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.