Inuvo (NYSE:INUV) Coverage Initiated at StockNews.com

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

Separately, Maxim Group raised Inuvo to a “strong-buy” rating in a research report on Friday, November 8th.

Inuvo Trading Down 4.3 %

Shares of NYSE:INUV opened at $0.35 on Tuesday. The business has a 50-day moving average price of $0.25 and a 200 day moving average price of $0.27. The company has a market capitalization of $49.33 million, a price-to-earnings ratio of -5.83 and a beta of 1.20. Inuvo has a 12-month low of $0.19 and a 12-month high of $0.57.

Hedge Funds Weigh In On Inuvo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted 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 valued at $264,000 after acquiring an additional 73,682 shares during the period. Bard Associates Inc. boosted its stake in shares of Inuvo by 7.1% in the 3rd quarter. Bard Associates Inc. now owns 4,234,177 shares of the company’s stock valued at $1,044,000 after buying an additional 279,100 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Inuvo by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,495,657 shares of the company’s stock valued at $1,874,000 after buying an additional 46,290 shares during the period. 29.36% of the stock is currently owned by hedge funds and other 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.