Inuvo (NYSE:INUV) Now Covered by HC Wainwright

HC Wainwright assumed coverage on shares of Inuvo (NYSE:INUV) in a report released on Tuesday morning,Benzinga reports. The brokerage issued a buy rating and a $2.00 target price on the stock.

Separately, StockNews.com assumed coverage on shares of Inuvo in a report on Sunday. They issued a “hold” rating on the stock.

Inuvo Trading Up 2.4 %

Inuvo stock opened at $0.36 on Tuesday. The firm has a market capitalization of $51.73 million, a price-to-earnings ratio of -6.04 and a beta of 0.86. The firm’s fifty day moving average price is $0.48 and its two-hundred day moving average price is $0.35. Inuvo has a 1-year low of $0.19 and a 1-year high of $0.79.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Perkins Capital Management Inc. raised its stake in shares of Inuvo by 3.7% in the fourth quarter. Perkins Capital Management Inc. now owns 7,083,452 shares of the company’s stock worth $4,579,000 after purchasing an additional 255,590 shares during the last quarter. Bard Associates Inc. increased its stake in Inuvo by 7.1% in 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 in the last quarter. Geode Capital Management LLC grew its holdings in Inuvo by 12.6% during the 4th quarter. Geode Capital Management LLC now owns 1,203,887 shares of the company’s stock valued at $778,000 after buying an additional 134,497 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Inuvo by 9.3% in the 4th quarter. Renaissance Technologies LLC now owns 507,149 shares of the company’s stock worth $328,000 after purchasing an additional 43,349 shares in the last quarter. Institutional investors 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.