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

StockNews.com initiated coverage on shares of Inuvo (NYSE:INUV) in a research report report published on Friday. 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 Trading Down 5.4 %

NYSE:INUV opened at $0.43 on Friday. Inuvo has a 1-year low of $0.19 and a 1-year high of $0.79. The firm has a fifty day simple moving average of $0.49 and a 200 day simple moving average of $0.34. The stock has a market capitalization of $60.88 million, a PE ratio of -7.22 and a beta of 0.91.

Institutional Investors Weigh In On Inuvo

A number of hedge funds and other institutional investors have recently modified their holdings of INUV. Geode Capital Management LLC lifted its holdings 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 buying an additional 73,682 shares in the last quarter. Renaissance Technologies LLC lifted 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 worth $328,000 after buying an additional 43,349 shares in the last quarter. Bard Associates Inc. lifted its holdings in shares of Inuvo by 7.1% during the third 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 in the last quarter. Finally, Perkins Capital Management Inc. lifted its holdings in shares of Inuvo by 3.7% during the fourth quarter. Perkins Capital Management Inc. now owns 7,083,452 shares of the company’s stock worth $4,579,000 after buying an additional 255,590 shares in the last quarter. Institutional investors and hedge funds 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.