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

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

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

Inuvo Stock Up 2.7 %

Shares of INUV stock opened at $0.72 on Friday. The company’s fifty day simple moving average is $0.33 and its two-hundred day simple moving average is $0.29. Inuvo has a 52 week low of $0.19 and a 52 week high of $0.79. The stock has a market cap of $100.46 million, a P/E ratio of -11.92 and a beta of 1.20.

Hedge Funds Weigh In On Inuvo

An institutional investor recently raised its position in Inuvo stock. Geode Capital Management LLC boosted its position in shares of Inuvo, Inc. (NYSE:INUV) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,069,390 shares of the company’s stock after buying an additional 73,682 shares during the quarter. Geode Capital Management LLC owned 0.76% of Inuvo worth $264,000 as of its most recent filing with the Securities & Exchange Commission. 29.36% of the stock is currently owned by institutional investors and hedge funds.

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.