Inuvo Inc (NYSEAMERICAN:INUV) rose 11.5% during trading on Wednesday . The company traded as high as $0.31 and last traded at $0.29, approximately 261,893 shares were traded during mid-day trading. An increase of 9% from the average daily volume of 241,286 shares. The stock had previously closed at $0.26.
Separately, Zacks Investment Research cut Inuvo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th.
Inuvo (NYSEAMERICAN:INUV) last issued its quarterly earnings results on Wednesday, August 14th. The technology company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.07. The company had revenue of $14.05 million during the quarter, compared to the consensus estimate of $13.30 million.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its position in Inuvo by 10.0% in the second quarter. Renaissance Technologies LLC now owns 1,885,189 shares of the technology company’s stock valued at $792,000 after acquiring an additional 171,999 shares during the last quarter. Vanguard Group Inc. grew its position in Inuvo by 8.0% in the second quarter. Vanguard Group Inc. now owns 626,882 shares of the technology company’s stock valued at $264,000 after acquiring an additional 46,199 shares during the last quarter. Finally, Perkins Capital Management Inc. grew its position in Inuvo by 214.2% in the third quarter. Perkins Capital Management Inc. now owns 2,764,826 shares of the technology company’s stock valued at $747,000 after acquiring an additional 1,885,000 shares during the last quarter.
Inuvo Company Profile (NYSEAMERICAN:INUV)
Inuvo, Inc, together with its subsidiaries, a technology company, provides data-driven platforms that automatically identify and message online audiences across video, mobile, connected TV, display, and social and native devices, channels, and formats in the United States. The company's digital marketplace allows advertisers and publishers the opportunity to buy and sell advertising space in real time.
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