StockNews.com Initiates Coverage on Fluent (NASDAQ:FLNT)

StockNews.com assumed coverage on shares of Fluent (NASDAQ:FLNT) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the stock.

Fluent Trading Up 5.4 %

Shares of NASDAQ FLNT opened at $3.49 on Thursday. The company has a market cap of $47.67 million, a price-to-earnings ratio of -1.18 and a beta of 2.31. Fluent has a 12-month low of $2.31 and a 12-month high of $4.78. The stock’s 50 day simple moving average is $3.52 and its 200 day simple moving average is $3.35.

Fluent (NASDAQ:FLNT) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.29). The company had revenue of $65.98 million during the quarter, compared to the consensus estimate of $65.66 million. Fluent had a negative return on equity of 21.95% and a negative net margin of 14.15%. As a group, equities analysts forecast that Fluent will post -0.55 earnings per share for the current fiscal year.

Institutional Trading of Fluent

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in Fluent by 8.2% during the 1st quarter. Empowered Funds LLC now owns 311,597 shares of the company’s stock worth $154,000 after acquiring an additional 23,592 shares during the period. Salvus Wealth Management LLC boosted its position in Fluent by 4.3% during the 1st quarter. Salvus Wealth Management LLC now owns 110,875 shares of the company’s stock worth $55,000 after acquiring an additional 4,585 shares during the period. JB Capital Partners LP boosted its position in Fluent by 3.1% during the 4th quarter. JB Capital Partners LP now owns 4,958,629 shares of the company’s stock worth $3,322,000 after acquiring an additional 150,150 shares during the period. Victory Capital Management Inc. acquired a new position in Fluent during the 4th quarter worth $71,000. Finally, Simplicity Wealth LLC acquired a new position in Fluent during the 1st quarter worth $90,000. 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.