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

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

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

Inuvo Trading Down 6.1 %

INUV stock opened at $0.40 on Tuesday. The firm has a 50 day moving average of $0.44 and a 200-day moving average of $0.36. The firm has a market capitalization of $56.93 million, a P/E ratio of -6.65 and a beta of 0.86. Inuvo has a 12 month low of $0.19 and a 12 month high of $0.79.

Institutional Investors Weigh In On Inuvo

Hedge funds have recently bought and sold shares of the stock. Perkins Capital Management Inc. raised 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 buying an additional 255,590 shares in the last quarter. Geode Capital Management LLC raised its position in Inuvo by 12.6% during the fourth quarter. Geode Capital Management LLC now owns 1,203,887 shares of the company’s stock valued at $778,000 after purchasing an additional 134,497 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Inuvo by 9.3% during 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 during the last quarter. 29.36% of the stock is currently owned by 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.