HC Wainwright Reaffirms “Buy” Rating for Inuvo (NYSE:INUV)

HC Wainwright reaffirmed their buy rating on shares of Inuvo (NYSE:INUV) in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a $2.00 target price on the stock.

Separately, StockNews.com began coverage on shares of Inuvo in a research report on Monday. They set a “hold” rating for the company.

Inuvo Stock Performance

Shares of INUV opened at $0.42 on Tuesday. The company has a 50 day moving average price of $0.38 and a 200-day moving average price of $0.39. Inuvo has a fifty-two week low of $0.19 and a fifty-two week high of $0.79. The stock has a market capitalization of $60.39 million, a PE ratio of -7.01 and a beta of 0.98.

Inuvo (NYSE:INUV) last announced 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 net margin of 10.59% and a negative return on equity of 57.24%. During the same period in the previous year, the firm posted ($0.01) earnings per share. Equities research analysts forecast that Inuvo will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Inuvo

A number of hedge funds and other institutional investors have recently bought and sold shares of INUV. Geode Capital Management LLC lifted its position in Inuvo by 7.4% during the third 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 last quarter. Renaissance Technologies LLC lifted its position in Inuvo by 9.3% during the fourth quarter. Renaissance Technologies LLC now owns 507,149 shares of the company’s stock valued at $328,000 after acquiring an additional 43,349 shares during the last quarter. Finally, Perkins Capital Management Inc. lifted its position in Inuvo by 3.7% during 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. Hedge funds and other institutional investors own 29.36% of the company’s stock.

Inuvo Company Profile

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.