Zacks Investment Research upgraded shares of Inuvo (NYSEAMERICAN:INUV) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $0.25 price objective on the technology company’s stock.
According to Zacks, “Inuvo is an Internet marketing and technology company that delivers purchase-ready customers to advertisers through a broad network of websites and applications reaching both desktop and mobile devices. They deliver content and targeted advertisements over the internet and generate revenue when an end user clicks on the advertisements they delivered. They manage their business as two segments, the Partner Network and the Owned and Operated Network. The Partner Network delivers advertisements to their partners’ websites and applications on desktop, tablet and mobile devices. Their proprietary technology platform allows for targeted distribution of advertisements at a scale that measures in the hundreds of millions of advertisements delivered monthly. The Owned and Operated Network designs, builds and markets consumer websites and applications. This segment consists of their mobile-ready ALOT websites and is focused on providing engaging content to their users. “
Inuvo stock opened at $0.28 on Wednesday. Inuvo has a fifty-two week low of $0.19 and a fifty-two week high of $1.75.
A number of institutional investors have recently added to or reduced their stakes in the stock. Perkins Capital Management Inc. boosted its stake in Inuvo by 214.2% during the 3rd quarter. Perkins Capital Management Inc. now owns 2,764,826 shares of the technology company’s stock worth $747,000 after acquiring an additional 1,885,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in Inuvo by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 626,882 shares of the technology company’s stock worth $264,000 after acquiring an additional 46,199 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Inuvo by 10.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,885,189 shares of the technology company’s stock worth $792,000 after acquiring an additional 171,999 shares during the last quarter.
Inuvo, Inc, together with its subsidiaries, a technology company, provides data-driven platforms that automatically identify and message online audiences across video, mobile, connected TV, display, and social and native devices, channels, and formats in the United States. The company’s digital marketplace allows advertisers and publishers the opportunity to buy and sell advertising space in real time.
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