Fluent Inc (NASDAQ:FLNT) shares shot up 5.5% during mid-day trading on Thursday . The stock traded as high as $3.90 and last traded at $3.25, 59,461 shares changed hands during trading. A decline of 80% from the average session volume of 300,435 shares. The stock had previously closed at $3.08.
Several research firms recently issued reports on FLNT. Barrington Research restated a “hold” rating on shares of Fluent in a research report on Wednesday. ValuEngine upgraded Fluent from a “hold” rating to a “buy” rating in a research report on Friday, January 10th. Zacks Investment Research upgraded Fluent from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, TheStreet lowered Fluent from a “c” rating to a “d+” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $6.58.
The firm has a 50-day moving average of $2.29 and a 200-day moving average of $3.06. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $226.59 million, a P/E ratio of 29.50 and a beta of 1.15.
Fluent (NASDAQ:FLNT) last posted its quarterly earnings results on Monday, November 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.08). Fluent had a positive return on equity of 0.22% and a negative net margin of 0.39%. The company had revenue of $64.60 million for the quarter, compared to the consensus estimate of $69.60 million. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities analysts anticipate that Fluent Inc will post -0.08 EPS for the current fiscal year.
In related news, CEO Ryan Schulke bought 16,422 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of $1.70 per share, with a total value of $27,917.40. Following the purchase, the chief executive officer now owns 7,216,354 shares of the company’s stock, valued at approximately $12,267,801.80. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alexander Mandel bought 17,056 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $2.10 per share, for a total transaction of $35,817.60. Following the purchase, the chief financial officer now directly owns 17,056 shares in the company, valued at approximately $35,817.60. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 84,033 shares of company stock valued at $165,078. Company insiders own 20.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Fluent by 53.0% during the second quarter. BlackRock Inc. now owns 2,795,429 shares of the company’s stock valued at $15,039,000 after buying an additional 968,785 shares during the period. Vanguard Group Inc. increased its position in shares of Fluent by 2.8% during the second quarter. Vanguard Group Inc. now owns 1,763,507 shares of the company’s stock valued at $9,488,000 after buying an additional 48,015 shares during the period. State Street Corp increased its position in shares of Fluent by 9.8% during the third quarter. State Street Corp now owns 765,118 shares of the company’s stock valued at $2,093,000 after buying an additional 68,435 shares during the period. Wells Fargo & Company MN increased its position in shares of Fluent by 318.9% during the second quarter. Wells Fargo & Company MN now owns 688,689 shares of the company’s stock valued at $3,705,000 after buying an additional 524,296 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Fluent by 1,097.3% during the second quarter. Renaissance Technologies LLC now owns 425,106 shares of the company’s stock valued at $2,287,000 after buying an additional 389,600 shares during the period. Institutional investors own 32.61% of the company’s stock.
Fluent Company Profile (NASDAQ:FLNT)
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.