Short Interest in Fluent, Inc. (NASDAQ:FLNT) Drops By 58.5%

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

Fluent Stock Up 5.4%

NASDAQ FLNT traded up $0.19 during trading on Tuesday, hitting $3.70. 20,042 shares of the company traded hands, compared to its average volume of 69,541. Fluent has a 12 month low of $1.70 and a 12 month high of $4.15. The business has a fifty day simple moving average of $2.92 and a 200 day simple moving average of $3.14. The company has a market capitalization of $110.33 million, a P/E ratio of -4.25 and a beta of 0.73. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34.

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

Insider Transactions at Fluent

In other news, major shareholder Global Value Investment Corp. purchased 61,368 shares of Fluent stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $2.75 per share, for a total transaction of $168,762.00. Following the acquisition, the insider directly owned 3,151,044 shares in the company, valued at $8,665,371. This represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Donald Huntley Patrick sold 19,230 shares of Fluent stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $2.58, for a total value of $49,613.40. Following the sale, the chief executive officer owned 312,455 shares of the company’s stock, valued at approximately $806,133.90. This represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders bought 132,736 shares of company stock valued at $358,260 and sold 29,120 shares valued at $75,197. Company insiders own 38.40% of the company’s stock.

Institutional Investors Weigh In On Fluent

A number of large investors have recently added to or reduced their stakes in the stock. Mink Brook Asset Management LLC acquired a new position in Fluent during the third quarter valued at approximately $634,000. Susquehanna International Group LLP raised 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 during the period. Geode Capital Management LLC lifted its stake in shares of Fluent by 44.7% in the fourth quarter. Geode Capital Management LLC now owns 144,713 shares of the company’s stock worth $347,000 after buying an additional 44,684 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Fluent in the fourth quarter worth $84,000. Finally, 4WEALTH Advisors Inc. boosted its holdings in shares of Fluent by 27.1% during the 1st quarter. 4WEALTH Advisors Inc. now owns 22,237 shares of the company’s stock worth $69,000 after buying an additional 4,735 shares during the period. Institutional investors own 23.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.