Inuvo (NYSE:INUV) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Inuvo (NYSE:INUV) in a research note released on Tuesday. The brokerage issued a hold rating on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $2.00 price objective on shares of Inuvo in a report on Tuesday, May 13th.

Inuvo Stock Performance

Inuvo stock opened at $0.45 on Tuesday. The stock has a fifty day moving average of $0.39 and a two-hundred day moving average of $0.40. The company has a market capitalization of $64.51 million, a price-to-earnings ratio of -7.45 and a beta of 0.98. Inuvo has a fifty-two week low of $0.19 and a fifty-two week high of $0.79.

Inuvo (NYSE:INUV) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Inuvo had a negative return on equity of 57.24% and a negative net margin of 10.59%. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, analysts forecast that Inuvo will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Inuvo

Several hedge funds have recently made changes to their positions in the business. Perkins Capital Management Inc. boosted its holdings in Inuvo by 3.7% in the fourth quarter. Perkins Capital Management Inc. now owns 7,083,452 shares of the company’s stock valued at $4,579,000 after acquiring an additional 255,590 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Inuvo by 12.6% during the fourth quarter. Geode Capital Management LLC now owns 1,203,887 shares of the company’s stock worth $778,000 after purchasing an additional 134,497 shares in the last quarter. Renaissance Technologies LLC lifted 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 worth $328,000 after purchasing an additional 43,349 shares in the last quarter. Finally, Belpointe Asset Management LLC acquired a new position in shares of Inuvo during the first quarter worth about $25,000. 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.