Fluent Inc (NASDAQ:FLNT) Sees Large Increase in Short Interest

Fluent Inc (NASDAQ:FLNT) was the recipient of a large increase in short interest in November. As of November 29th, there was short interest totalling 1,700,000 shares, an increase of 9.0% from the November 14th total of 1,560,000 shares. Based on an average trading volume of 325,400 shares, the days-to-cover ratio is presently 5.2 days. Approximately 4.0% of the company’s stock are short sold.

Several equities research analysts have commented on FLNT shares. TheStreet lowered shares of Fluent from a “c” rating to a “d+” rating in a research note on Monday, November 11th. ValuEngine upgraded Fluent from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Barrington Research lowered Fluent from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 12th. Finally, Zacks Investment Research lowered Fluent from a “hold” rating to a “strong sell” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $6.58.

Shares of Fluent stock traded up $0.05 during trading hours on Friday, hitting $2.11. 372,840 shares of the company’s stock traded hands, compared to its average volume of 425,515. Fluent has a 12-month low of $1.26 and a 12-month high of $7.47. The stock has a market capitalization of $158.23 million, a price-to-earnings ratio of 21.10 and a beta of 0.97. The company has a fifty day simple moving average of $1.97 and a 200-day simple moving average of $3.53. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 1.63.

Fluent (NASDAQ:FLNT) last released its earnings results on Monday, November 11th. The company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.08). The business had revenue of $64.60 million for the quarter, compared to the consensus estimate of $69.60 million. Fluent had a positive return on equity of 0.22% and a negative net margin of 0.39%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts forecast that Fluent will post -0.08 EPS for the current fiscal year.

In other news, CEO Ryan Schulke bought 16,224 shares of the stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $2.16 per share, for a total transaction of $35,043.84. Following the completion of the acquisition, the chief executive officer now directly owns 7,246,419 shares in the company, valued at approximately $15,652,265.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Matthew Conlin purchased 15,372 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average cost of $2.06 per share, for a total transaction of $31,666.32. In the last quarter, insiders bought 66,977 shares of company stock valued at $129,260. Company insiders own 20.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of FLNT. Ausdal Financial Partners Inc. bought a new stake in Fluent in the second quarter worth about $56,000. Cadence Capital Management LLC purchased a new stake in shares of Fluent during the 3rd quarter worth approximately $56,000. A.R.T. Advisors LLC purchased a new stake in shares of Fluent during the 2nd quarter worth approximately $59,000. Alberta Investment Management Corp bought a new stake in shares of Fluent in the 3rd quarter worth approximately $80,000. Finally, Strs Ohio bought a new stake in shares of Fluent in the 2nd quarter worth approximately $100,000. Institutional investors and hedge funds own 32.61% of the company’s stock.

About Fluent

Fluent, Inc provides data-driven digital marketing services primarily in the United States. The company also offers customer acquisition services by operating digital marketing campaigns, through which the company connects its advertiser clients with consumers. It delivers data and performance-based marketing executions to approximately 500 consumer brands, direct marketers, and agencies across a range of industries, including financial services, retail and consumer, media and entertainment, staffing and recruitment, and marketing services.

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