Canaccord Genuity Group Boosts Fluent (NASDAQ:FLNT) Price Target to $3.50

Fluent (NASDAQ:FLNT) had its price target boosted by stock analysts at Canaccord Genuity Group from $2.50 to $3.50 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 4.48% from the company’s current price.

Fluent Stock Performance

Shares of FLNT traded down $0.19 during mid-day trading on Tuesday, hitting $3.35. 18,185 shares of the company traded hands, compared to its average volume of 48,154. The stock has a market cap of $99.29 million, a price-to-earnings ratio of -2.91 and a beta of 0.94. The stock has a 50-day moving average price of $3.25 and a two-hundred day moving average price of $2.51. Fluent has a 1 year low of $1.50 and a 1 year high of $4.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.02 and a current ratio of 1.02.

Fluent (NASDAQ:FLNT) last issued its earnings results on Monday, March 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). Fluent had a negative return on equity of 109.15% and a negative net margin of 12.47%.The company had revenue of $61.82 million during the quarter, compared to analysts’ expectations of $62.85 million. Equities analysts anticipate that Fluent will post -1.82 earnings per share for the current year.

Institutional Trading of Fluent

Several large investors have recently added to or reduced their stakes in FLNT. Millennium Management LLC bought a new position in Fluent in the fourth quarter worth approximately $84,000. Susquehanna International Group LLP grew its position in shares of Fluent by 65.3% during the 3rd quarter. Susquehanna International Group LLP now owns 39,947 shares of the company’s stock valued at $89,000 after acquiring an additional 15,777 shares during the period. Geode Capital Management LLC increased its stake in shares of Fluent by 44.7% in the 4th quarter. Geode Capital Management LLC now owns 144,713 shares of the company’s stock worth $347,000 after purchasing an additional 44,684 shares in the last quarter. Finally, Mink Brook Asset Management LLC bought a new position in Fluent in the 3rd quarter worth $634,000. 23.33% of the stock is currently owned by institutional investors.

About Fluent

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.