Fluent, Inc. (NASDAQ:FLNT) Short Interest Down 24.0% in March

Fluent, Inc. (NASDAQ:FLNT) saw a significant 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. Based on an average daily trading volume, of 47,555 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.3% of the shares of the stock are short sold.

Insider Transactions at Fluent

In other news, major shareholder Global Value Investment Corp. acquired 65,148 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $3.47 per share, with a total value of $226,063.56. Following the purchase, the insider directly owned 3,089,676 shares of the company’s stock, valued at approximately $10,721,175.72. This trade represents a 2.15% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Geygan bought 65,148 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $3.47 per share, for a total transaction of $226,063.56. Following the completion of the transaction, the director owned 3,040,655 shares of the company’s stock, valued at $10,551,072.85. This represents a 2.19% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 164,835 shares of company stock valued at $572,666. 23.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Fluent

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mink Brook Asset Management LLC acquired a new position in Fluent in the 3rd quarter valued at about $634,000. Geode Capital Management LLC boosted its stake in shares of Fluent by 44.7% during 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 last quarter. Susquehanna International Group LLP boosted its stake 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 worth $89,000 after purchasing an additional 15,777 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Fluent during the fourth quarter worth about $84,000. Hedge funds and other institutional investors own 23.33% of the company’s stock.

Analysts Set New Price Targets

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

Fluent Price Performance

Shares of Fluent stock traded up $0.04 during trading on Tuesday, hitting $3.16. 47,559 shares of the company were exchanged, compared to its average volume of 52,017. Fluent has a fifty-two week low of $1.50 and a fifty-two week high of $4.15. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average price of $3.43 and a 200 day moving average price of $2.65. The stock has a market capitalization of $93.66 million, a price-to-earnings ratio of -2.90 and a beta of 0.94.

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