Inuvo (NYSEAMERICAN:INUV) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Inuvo (NYSEAMERICAN:INUV) from a hold rating to a sell rating in a research note released on Thursday, Zacks.com reports.

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. “

NYSEAMERICAN INUV traded down $0.02 on Thursday, hitting $0.26. The company had a trading volume of 377,400 shares, compared to its average volume of 275,991. Inuvo has a 12-month low of $0.26 and a 12-month high of $1.75.

Inuvo (NYSEAMERICAN:INUV) last announced its earnings results on Wednesday, May 15th. The technology company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $15.47 million for the quarter.

In other news, Director Charles D. Morgan purchased 1,650,000 shares of the stock in a transaction dated Monday, July 15th. The shares were purchased at an average price of $0.30 per share, with a total value of $495,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

A hedge fund recently raised its stake in Inuvo stock. Perkins Capital Management Inc. raised its stake in Inuvo Inc (NYSEAMERICAN:INUV) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 652,527 shares of the technology company’s stock after buying an additional 11,082 shares during the quarter. Perkins Capital Management Inc. owned about 2.02% of Inuvo worth $809,000 at the end of the most recent quarter.

About Inuvo

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.

See Also: Intrinsic Value

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