Fluent, Inc. (NASDAQ:FLNT) Sees Significant Drop in Short Interest

Fluent, Inc. (NASDAQ:FLNT) was the recipient of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 65,094 shares, a decrease of 24.0% from the February 26th total of 85,638 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 47,555 shares, the days-to-cover ratio is currently 1.4 days.

Fluent Stock Performance

Shares of FLNT stock traded up $0.04 on Tuesday, hitting $3.16. 47,559 shares of the stock were exchanged, compared to its average volume of 52,017. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $93.66 million, a PE ratio of -2.90 and a beta of 0.94. Fluent has a one year low of $1.50 and a one year high of $4.15. The firm’s 50 day moving average is $3.43 and its two-hundred day moving average is $2.65.

Fluent (NASDAQ:FLNT) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The firm had revenue of $61.82 million during the quarter, compared to the consensus estimate of $62.85 million. Fluent had a negative net margin of 13.01% and a negative return on equity of 115.19%. Sell-side analysts expect that Fluent will post -1.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluent

In related news, major shareholder Global Value Investment Corp. purchased 65,148 shares of Fluent stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $3.47 per share, for a total transaction of $226,063.56. Following the completion of the transaction, the insider owned 3,089,676 shares in the company, valued at $10,721,175.72. This represents a 2.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Geygan acquired 65,148 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $3.47 per share, with a total value of $226,063.56. Following the acquisition, the director directly owned 3,040,655 shares of the company’s stock, valued at $10,551,072.85. The trade was a 2.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 164,835 shares of company stock valued at $572,666. Insiders own 23.32% of the company’s stock.

Institutional Investors Weigh In On Fluent

Several institutional investors have recently made changes to their positions in the stock. Susquehanna International Group LLP grew its position 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 valued at $89,000 after purchasing an additional 15,777 shares in the last quarter. Millennium Management LLC purchased a new stake in Fluent during the 4th quarter worth about $84,000. Geode Capital Management LLC boosted its stake in 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 during the period. Finally, Mink Brook Asset Management LLC bought a new position in Fluent in the 3rd quarter worth about $634,000. Hedge funds and other institutional investors own 23.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased their target price on shares of Fluent from $2.50 to $3.50 and gave the company a “hold” rating in a research report on Tuesday, March 10th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $3.50.

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.