Fluent, Inc. (NASDAQ:FLNT) Sees Large Decline in Short Interest

Fluent, Inc. (NASDAQ:FLNT) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 82,984 shares, a decrease of 58.5% from the June 15th total of 200,168 shares. Based on an average trading volume of 55,458 shares, the short-interest ratio is presently 1.5 days. Approximately 0.5% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital initiated coverage on Fluent in a research note on Thursday, April 23rd. They issued a “buy” rating and a $5.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.25.

Insider Transactions at Fluent

In related news, Director James Geygan acquired 60,183 shares of Fluent stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $2.75 per share, with a total value of $165,503.25. Following the purchase, the director directly owned 3,100,838 shares in the company, valued at $8,527,304.50. The trade was a 1.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Donald Huntley Patrick sold 19,230 shares of Fluent stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $2.58, for a total value of $49,613.40. Following the completion of the transaction, the chief executive officer owned 312,455 shares in the company, valued at $806,133.90. The trade was a 5.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders purchased 132,736 shares of company stock valued at $358,260 and sold 29,120 shares valued at $75,197. Corporate insiders own 38.40% of the company’s stock.

Institutional Investors Weigh In On Fluent

Several hedge funds have recently bought and sold shares of FLNT. 4WEALTH Advisors Inc. grew its stake in Fluent by 27.1% during the 1st quarter. 4WEALTH Advisors Inc. now owns 22,237 shares of the company’s stock valued at $69,000 after acquiring an additional 4,735 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Fluent in the fourth quarter worth approximately $84,000. Susquehanna International Group LLP boosted its holdings in shares of Fluent by 65.3% during the third 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 period. Salvus Wealth Management LLC grew its position in Fluent by 54.3% during the second quarter. Salvus Wealth Management LLC now owns 30,008 shares of the company’s stock valued at $112,000 after purchasing an additional 10,560 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 valued at $347,000 after purchasing an additional 44,684 shares in the last quarter. 23.33% of the stock is owned by hedge funds and other institutional investors.

Fluent Trading Up 1.2%

Shares of NASDAQ:FLNT traded up $0.04 during mid-day trading on Wednesday, hitting $3.71. The stock had a trading volume of 7,048 shares, compared to its average volume of 69,095. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $110.48 million, a PE ratio of -4.25 and a beta of 0.73. Fluent has a 12-month low of $1.70 and a 12-month high of $4.15. The company’s 50 day moving average is $2.93 and its 200-day moving average is $3.14.

Fluent (NASDAQ:FLNT) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.02. The firm had revenue of $44.85 million for the quarter, compared to analysts’ expectations of $48.80 million. Fluent had a negative net margin of 12.22% and a negative return on equity of 132.41%. On average, sell-side analysts predict that Fluent will post -0.48 EPS for the current year.

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.