Inuvo (NYSE:INUV) Given New $15.00 Price Target at HC Wainwright

Inuvo (NYSE:INUV) had its target price lifted by HC Wainwright from $2.00 to $15.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Wall Street Zen started coverage on Inuvo in a report on Tuesday, May 20th. They issued a “hold” rating on the stock.

Inuvo Stock Performance

INUV stock opened at $4.60 on Monday. The company has a market capitalization of $66.36 million, a P/E ratio of -76.67 and a beta of 0.80. The company has a fifty day moving average price of $3.99 and a 200-day moving average price of $4.26. Inuvo has a 52-week low of $1.90 and a 52-week high of $7.90.

Inuvo (NYSE:INUV) last announced its earnings results on Friday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). Inuvo had a negative return on equity of 57.24% and a negative net margin of 10.59%. During the same quarter last year, the company posted ($0.10) earnings per share. As a group, sell-side analysts forecast that Inuvo will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inuvo

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Belpointe Asset Management LLC acquired a new stake in Inuvo during the first quarter worth approximately $25,000. Renaissance Technologies LLC grew its position in shares of Inuvo by 9.3% during the 4th quarter. Renaissance Technologies LLC now owns 507,149 shares of the company’s stock worth $328,000 after buying an additional 43,349 shares during the period. Geode Capital Management LLC increased its stake in shares of Inuvo by 12.6% in the 4th quarter. Geode Capital Management LLC now owns 1,203,887 shares of the company’s stock valued at $778,000 after acquiring an additional 134,497 shares in the last quarter. Finally, Perkins Capital Management Inc. increased its stake in shares of Inuvo by 3.7% in the 4th 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 in the last quarter. 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.