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

Fluent, Inc. (NASDAQ:FLNT) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 60,178 shares, a drop of 32.0% from the August 15th total of 88,483 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 35,220 shares, the short-interest ratio is presently 1.7 days.

Key Stories Impacting Fluent

Here are the key news stories impacting Fluent this week:

• Positive Sentiment: Director James Geygan bought 12,376 shares at an average price of $3.38, investing approximately $41,831 and increasing his holdings by 0.40%. Major shareholder Global Value Investment Corp. reported an identical purchase, adding to the bullish interpretation of the filings. Fluent insider buying report
• Positive Sentiment: Fluent’s latest quarterly results provided a supportive operating backdrop: revenue of $48.45 million exceeded estimates of $44.64 million, while its loss of $0.13 per share was narrower than the expected $0.15 loss. Analysts cited in the report maintain a “Moderate Buy” consensus and an average price target of $5.00, above recent trading levels. Fluent stock and analyst coverage
• Neutral Sentiment: Geygan and Global Value Investment Corp. also disclosed several small sales from August through September. The transactions totaled only about 1,915 shares for each reporting holder and reduced their positions by no more than 0.02%, making them unlikely to materially affect the investment case. SEC insider transaction filing
• Negative Sentiment: David Allen Graff reportedly sold 25,000 shares of Fluent. Because the available report does not provide the sale price or remaining ownership, the transaction’s significance is uncertain, but it could create short-term selling pressure. David Allen Graff sells Fluent shares

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FLNT shares. Lake Street Capital reiterated a “buy” rating and set a $5.50 price objective (up from $5.00) on shares of Fluent in a research note on Tuesday, August 11th. Canaccord Genuity Group set a $4.50 price target on shares of Fluent and gave the stock a “hold” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Fluent currently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Fluent Stock Performance

NASDAQ:FLNT traded up $0.07 during mid-day trading on Thursday, hitting $3.42. 7,185 shares of the stock were exchanged, compared to its average volume of 59,620. The firm’s 50-day simple moving average is $3.62 and its 200 day simple moving average is $3.28. The stock has a market capitalization of $107.95 million, a price-to-earnings ratio of -4.44 and a beta of 0.75. Fluent has a fifty-two week low of $1.70 and a fifty-two week high of $4.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 0.88.

Fluent (NASDAQ:FLNT) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. Fluent had a negative return on equity of 155.09% and a negative net margin of 11.48%.The firm had revenue of $48.45 million for the quarter, compared to analysts’ expectations of $44.64 million. As a group, equities analysts anticipate that Fluent will post -0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Fluent news, Director David Graff sold 25,000 shares of Fluent stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $3.00, for a total value of $75,000.00. Following the sale, the director owned 95,438 shares of the company’s stock, valued at $286,314. This trade represents a 20.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Global Value Investment Corp. acquired 12,376 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was bought at an average price of $3.38 per share, with a total value of $41,830.88. Following the acquisition, the insider directly owned 3,229,627 shares in the company, valued at $10,916,139.26. This represents a 0.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 27,575 shares of company stock valued at $92,357 and sold 28,830 shares valued at $89,764. 38.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fluent

Hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LP bought a new position in Fluent during the 2nd quarter worth $4,933,000. Tieton Capital Management LLC acquired a new position in Fluent in the second quarter valued at about $4,387,000. Sei Investments Co. lifted 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 purchasing an additional 274,533 shares during the period. Salvus Wealth Management LLC increased its holdings in Fluent by 54.3% in the 2nd quarter. Salvus Wealth Management LLC now owns 30,008 shares of the company’s stock valued at $112,000 after buying an additional 10,560 shares during the period. Finally, 4WEALTH Advisors Inc. raised its position in shares of Fluent by 27.1% in the 1st quarter. 4WEALTH Advisors Inc. now owns 22,237 shares of the company’s stock valued at $69,000 after buying an additional 4,735 shares in the last quarter. 23.33% of the stock is currently owned by institutional investors and hedge funds.

Fluent Company Profile

Fluent, Inc is a digital marketing and advertising technology company that helps brands, agencies and publishers reach and engage consumers across digital channels. Its offerings are designed to support customer acquisition, audience targeting and campaign performance through data-driven marketing solutions.

The company provides programmatic advertising, media buying, audience development, data management and marketing technology services. Fluent’s platform supports campaigns across channels such as display, mobile, video, social media and connected television, with tools intended to help advertisers identify relevant audiences, deliver personalized messages and measure results.

Fluent serves marketers, agencies and media owners in the United States and international markets.