Inuvo (NYSE:INUV) Earns Buy Rating from Analysts at HC Wainwright

Equities researchers at HC Wainwright initiated coverage on shares of Inuvo (NYSE:INUV) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $2.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 465.29% from the company’s previous close.

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

Inuvo Price Performance

NYSE INUV opened at $0.35 on Tuesday. The stock’s 50-day moving average is $0.48 and its 200-day moving average is $0.35. Inuvo has a one year low of $0.19 and a one year high of $0.79. The firm has a market cap of $50.52 million, a P/E ratio of -5.90 and a beta of 0.86.

Institutional Trading of Inuvo

Several hedge funds and other institutional investors have recently modified their holdings of INUV. Renaissance Technologies LLC boosted its position 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 during the period. Geode Capital Management LLC lifted its stake in Inuvo by 12.6% in the 4th quarter. Geode Capital Management LLC now owns 1,203,887 shares of the company’s stock valued at $778,000 after acquiring an additional 134,497 shares in the last quarter. Perkins Capital Management Inc. boosted its position in Inuvo by 3.7% during the 4th quarter. Perkins Capital Management Inc. now owns 7,083,452 shares of the company’s stock worth $4,579,000 after acquiring an additional 255,590 shares during the last quarter. Finally, Bard Associates Inc. grew 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 acquiring an additional 279,100 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.