StockNews.com Initiates Coverage on Inuvo (NYSE:INUV)

Stock analysts at StockNews.com began coverage on shares of Inuvo (NYSE:INUV) in a research note issued on Sunday. The brokerage set a “hold” rating on the stock.

Inuvo Stock Down 6.9 %

INUV stock opened at $0.35 on Friday. The company has a fifty day simple moving average of $0.48 and a two-hundred day simple moving average of $0.35. Inuvo has a 52 week low of $0.19 and a 52 week high of $0.79. The firm has a market capitalization of $50.52 million, a P/E ratio of -5.90 and a beta of 0.86.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INUV. Bard Associates Inc. boosted its stake 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 purchasing an additional 279,100 shares during the period. Geode Capital Management LLC lifted its stake in Inuvo by 7.4% in the third 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 last quarter. Perkins Capital Management Inc. boosted its position 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. Finally, Renaissance Technologies LLC raised its holdings 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 buying an additional 43,349 shares during the period. Institutional investors own 29.36% of the company’s stock.

Inuvo Company Profile

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.