Inuvo (NYSE:INUV) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Inuvo (NYSE:INUV) in a research note issued to investors on Saturday morning. 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 Price Performance

Shares of INUV opened at $0.37 on Friday. The firm has a market capitalization of $52.07 million, a price-to-earnings ratio of -6.18 and a beta of 0.91. Inuvo has a 1-year low of $0.19 and a 1-year high of $0.79. The company has a 50-day moving average of $0.49 and a 200 day moving average of $0.35.

Institutional Trading of Inuvo

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in shares of Inuvo by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,069,390 shares of the company’s stock valued at $264,000 after purchasing an additional 73,682 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of 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 during the last quarter. Bard Associates Inc. raised its position in Inuvo by 7.1% during the 3rd quarter. Bard Associates Inc. now owns 4,234,177 shares of the company’s stock worth $1,044,000 after buying an additional 279,100 shares during the last quarter. Finally, Perkins Capital Management Inc. lifted its position in Inuvo by 3.7% during the fourth quarter. Perkins Capital Management Inc. now owns 7,083,452 shares of the company’s stock valued at $4,579,000 after purchasing an additional 255,590 shares during the period. 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.