Zacks Investment Research lowered shares of Inuvo (NYSEAMERICAN:INUV) from a hold rating to a sell rating in a report issued on Tuesday, 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. “

Shares of NYSEAMERICAN:INUV opened at $0.30 on Tuesday. Inuvo has a 52-week low of $0.19 and a 52-week high of $1.75.

Inuvo (NYSEAMERICAN:INUV) last issued its earnings results on Wednesday, August 14th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.07. The company had revenue of $14.05 million during the quarter, compared to analysts’ expectations of $13.30 million.

In related news, Director Charles D. Morgan bought 1,650,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was bought at an average cost of $0.30 per share, for a total transaction of $495,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

A hedge fund recently raised its stake in Inuvo stock. Renaissance Technologies LLC raised its stake in Inuvo Inc (NYSEAMERICAN:INUV) by 10.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,885,189 shares of the technology company’s stock after buying an additional 171,999 shares during the quarter. Renaissance Technologies LLC owned approximately 4.06% of Inuvo worth $792,000 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.

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