Fluent, Inc. (NASDAQ:FLNT) Short Interest Down 37.9% in October

Fluent, Inc. (NASDAQ:FLNT) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 19,300 shares, a drop of 37.9% from the September 30th total of 31,100 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 20,800 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On Fluent

A hedge fund recently raised its stake in Fluent stock. Empowered Funds LLC lifted its position in shares of Fluent, Inc. (NASDAQ:FLNT) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311,597 shares of the company’s stock after acquiring an additional 23,592 shares during the quarter. Empowered Funds LLC owned 2.28% of Fluent worth $154,000 at the end of the most recent quarter. 23.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FLNT shares. Canaccord Genuity Group reduced their price objective on Fluent from $4.50 to $4.00 and set a “hold” rating for the company in a research note on Tuesday, August 20th. StockNews.com began coverage on shares of Fluent in a research note on Tuesday, October 22nd. They set a “hold” rating for the company.

Fluent Price Performance

FLNT stock remained flat at $3.03 during trading on Tuesday. The company had a trading volume of 8,528 shares, compared to its average volume of 23,465. The company has a fifty day simple moving average of $2.97 and a 200-day simple moving average of $3.23. 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 stock has a market cap of $51.12 million, a price-to-earnings ratio of -1.02 and a beta of 2.25. Fluent has a 1 year low of $2.31 and a 1 year high of $4.78.

Fluent (NASDAQ:FLNT) last released its 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 company had revenue of $58.72 million during the quarter, compared to analyst estimates of $61.61 million. Sell-side analysts anticipate that Fluent will post -1 earnings per share for the current year.

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.