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

Fluent, Inc. (NASDAQ:FLNT) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 32,000 shares, an increase of 58.4% from the August 31st total of 20,200 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 17,300 shares, the days-to-cover ratio is presently 1.8 days.

Fluent Price Performance

NASDAQ:FLNT opened at $3.55 on Friday. Fluent has a 52-week low of $2.31 and a 52-week high of $4.78. The stock has a fifty day moving average of $3.00 and a 200 day moving average of $3.21. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $48.50 million, a price-to-earnings ratio of -1.20 and a beta of 2.24.

Fluent (NASDAQ:FLNT) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.25). Fluent had a negative net margin of 20.26% and a negative return on equity of 56.62%. The business had revenue of $58.72 million for the quarter, compared to the consensus estimate of $61.61 million. On average, research analysts expect that Fluent will post -1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FLNT. StockNews.com assumed coverage on Fluent in a report on Friday. They set a “hold” rating for the company. Canaccord Genuity Group reduced their price objective on shares of Fluent from $4.50 to $4.00 and set a “hold” rating for the company in a research note on Tuesday, August 20th.

Hedge Funds Weigh In On Fluent

A number of hedge funds and other institutional investors have recently bought and sold shares of FLNT. Salvus Wealth Management LLC raised its position in shares of Fluent by 4.3% during the 1st quarter. Salvus Wealth Management LLC now owns 110,875 shares of the company’s stock valued at $55,000 after buying an additional 4,585 shares in the last quarter. Victory Capital Management Inc. bought a new position in Fluent in the fourth quarter valued at $71,000. Empowered Funds LLC raised its position in Fluent by 8.2% during the first quarter. Empowered Funds LLC now owns 311,597 shares of the company’s stock valued at $154,000 after purchasing an additional 23,592 shares in the last quarter. Finally, JB Capital Partners LP raised its position in Fluent by 3.1% during the fourth quarter. JB Capital Partners LP now owns 4,958,629 shares of the company’s stock valued at $3,322,000 after purchasing an additional 150,150 shares in the last quarter. Hedge funds and other institutional investors own 23.33% of the company’s stock.

About Fluent

Fluent, Inc provides data-driven digital marketing services in the United States and internationally. The company operates through Fluent and All Other segments. It offers customer acquisition services by operating digital marketing campaigns, through which the company connects its advertiser clients with consumers.