Short Interest in Fluent, Inc. (NASDAQ:FLNT) Rises By 295.4%
by Teresa Graham · The Cerbat GemFluent, Inc. (NASDAQ:FLNT – Get Free Report) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 200,168 shares, a growth of 295.4% from the May 31st total of 50,628 shares. Based on an average trading volume of 354,357 shares, the short-interest ratio is currently 0.6 days. Approximately 1.1% of the shares of the stock are short sold.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on FLNT shares. Canaccord Genuity Group increased their target price on Fluent from $2.50 to $3.50 and gave the company a “hold” rating in a research report on Tuesday, March 10th. Lake Street Capital started coverage on shares of Fluent in a report on Thursday, April 23rd. They issued a “buy” rating and a $5.00 price target for the company. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.25.
View Our Latest Analysis on Fluent
Insider Activity at Fluent
In other Fluent news, Director James Geygan purchased 60,183 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average price of $2.75 per share, for a total transaction of $165,503.25. Following the purchase, the director directly owned 3,100,838 shares in the company, valued at approximately $8,527,304.50. This trade represents a 1.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Global Value Investment Corp. purchased 61,368 shares of Fluent stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average cost of $2.75 per share, with a total value of $168,762.00. Following the acquisition, the insider directly owned 3,151,044 shares in the company, valued at $8,665,371. This trade represents a 1.99% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 132,736 shares of company stock worth $358,260 and sold 29,120 shares worth $75,197. 38.40% of the stock is owned by company insiders.
Institutional Investors Weigh In On Fluent
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 4WEALTH Advisors Inc. grew its holdings in shares of Fluent by 27.1% during the first quarter. 4WEALTH Advisors Inc. now owns 22,237 shares of the company’s stock worth $69,000 after buying an additional 4,735 shares in the last quarter. Susquehanna International Group LLP lifted its stake in shares of Fluent by 65.3% in the third quarter. Susquehanna International Group LLP now owns 39,947 shares of the company’s stock worth $89,000 after buying an additional 15,777 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Fluent in the fourth quarter worth about $84,000. Geode Capital Management LLC boosted its position in Fluent by 44.7% during the fourth quarter. Geode Capital Management LLC now owns 144,713 shares of the company’s stock worth $347,000 after acquiring an additional 44,684 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Fluent by 117.5% during the first quarter. Sei Investments Co. now owns 508,110 shares of the company’s stock worth $1,606,000 after acquiring an additional 274,533 shares during the last quarter. Institutional investors and hedge funds own 23.33% of the company’s stock.
Fluent Price Performance
NASDAQ:FLNT traded up $0.08 during trading hours on Friday, hitting $3.32. 28,396 shares of the stock were exchanged, compared to its average volume of 222,724. Fluent has a 52-week low of $1.70 and a 52-week high of $4.15. The firm’s fifty day moving average price is $2.81 and its 200 day moving average price is $3.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34. The company has a market cap of $99.00 million, a P/E ratio of -3.82 and a beta of 0.89.
Fluent (NASDAQ:FLNT – Get Free Report) last released its earnings results on Wednesday, May 13th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.02. Fluent had a negative return on equity of 132.41% and a negative net margin of 12.22%.The business had revenue of $44.85 million for the quarter, compared to the consensus estimate of $48.80 million. As a group, equities research analysts anticipate that Fluent will post -0.48 EPS for the current fiscal year.
Fluent Company Profile
Fluent, Inc is a performance marketing and customer acquisition platform that helps consumer brands drive leads and sales through data-driven digital campaigns. The company specializes in direct-response marketing, executing campaigns across multiple channels including email, display, paid search, social media and native advertising. By focusing on measurable outcomes such as cost per acquisition and return on ad spend, Fluent tailors solutions to meet the specific objectives of its clients.
The company’s proprietary technology leverages first-party data sourced from its network of consumer-facing digital properties and programmatic partnerships.