HC Wainwright Begins Coverage on Inuvo (NYSE:INUV)

HC Wainwright started coverage on shares of Inuvo (NYSE:INUV) in a report published on Tuesday,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 research note on Sunday. They set a “hold” rating for the company.

Inuvo Price Performance

Shares of NYSE INUV opened at $0.36 on Tuesday. The stock has a market capitalization of $51.73 million, a P/E ratio of -6.04 and a beta of 0.86. Inuvo has a 1-year low of $0.19 and a 1-year high of $0.79. The business’s 50 day moving average is $0.48 and its two-hundred day moving average is $0.35.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Inuvo by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,069,390 shares of the company’s stock worth $264,000 after purchasing an additional 73,682 shares during the period. Bard Associates Inc. grew its position in shares of 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 in the last quarter. Renaissance Technologies LLC increased its stake in shares of 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 buying an additional 43,349 shares during the period. Finally, Perkins Capital Management Inc. increased its stake 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 valued at $4,579,000 after buying an additional 255,590 shares during the period. 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.