Inuvo (NYSE:INUV) Research Coverage Started at StockNews.com

Posted by on Jun 23rd, 2023

Analysts at StockNews.com initiated coverage on shares of Inuvo (NYSE:INUV – Get Rating) in a research note issued to investors on Friday. The firm set a “sell” rating on the stock.

Separately, Alliance Global Partners reduced their price objective on shares of Inuvo to $1.00 in a report on Thursday, June 15th.

Inuvo Price Performance

Shares of NYSE INUV opened at $0.24 on Friday. Inuvo has a 52 week low of $0.20 and a 52 week high of $0.59. The firm has a 50-day moving average price of $0.29 and a 200 day moving average price of $0.32. The stock has a market capitalization of $29.60 million, a price-to-earnings ratio of -2.03 and a beta of 1.16.

Inuvo (NYSE:INUV – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($0.03) EPS for the quarter. Inuvo had a negative return on equity of 61.45% and a negative net margin of 21.00%. The firm had revenue of $11.85 million for the quarter.

Institutional Investors Weigh In On Inuvo

Hedge funds have recently bought and sold shares of the company. Perkins Capital Management Inc. boosted its position in Inuvo by 1.4% during the 4th quarter. Perkins Capital Management Inc. now owns 5,643,082 shares of the company’s stock worth $1,250,000 after buying an additional 79,000 shares during the period. Bard Associates Inc. increased its position in shares of Inuvo by 90.3% during the 4th quarter. Bard Associates Inc. now owns 1,260,502 shares of the company’s stock valued at $279,000 after purchasing an additional 598,000 shares during the last quarter. State Street Corp boosted its stake in Inuvo by 10.1% in the first quarter. State Street Corp now owns 312,054 shares of the company’s stock valued at $153,000 after acquiring an additional 28,691 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Inuvo by 175.0% during the second quarter. Renaissance Technologies LLC now owns 144,100 shares of the company’s stock valued at $71,000 after purchasing an additional 91,700 shares during the period. Finally, Cetera Investment Advisers bought a new position in Inuvo during the fourth quarter worth about $43,000. 17.73% of the stock is currently owned by institutional investors and hedge funds.

About Inuvo

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Inuvo, Inc, a technology company, engages in the development and sale of information technology solutions for marketing and advertising industries in the United States. The company's platforms identify and message online audiences for various products or services across devices, formats, and channels, including video, mobile, connected TV, linear TV, display, social, search, and native.

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