Fluent (NASDAQ:FLNT) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Fluent shares rose 9.4% and crossed above their 200-day moving average of $3.25, trading as high as $3.29 and last changing hands at $3.27.
• Analysts maintain a consensus “Moderate Buy” rating with a $5.00 target price; Lake Street raised its target to $5.50, while Canaccord assigned a $4.50 target and “Hold” rating.
• Fluent beat quarterly expectations, reporting a loss of $0.13 per share versus the $0.15 consensus estimate and revenue of $48.45 million versus $44.64 million expected. The company remains unprofitable, with a negative net margin of 11.48%.

Fluent, Inc. (NASDAQ:FLNT - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $3.25 and traded as high as $3.29. Fluent shares last traded at $3.27, with a volume of 47,237 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on FLNT shares. Lake Street Capital reissued a "buy" rating and set a $5.50 target price (up from $5.00) on shares of Fluent in a research report on Tuesday, August 11th. Canaccord Genuity Group set a $4.50 target price on Fluent and gave the stock a "hold" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Fluent presently has an average rating of "Moderate Buy" and a consensus target price of $5.00.

Fluent Stock Up 9.4%

The stock has a 50 day moving average of $3.17 and a 200-day moving average of $3.25. The firm has a market capitalization of $103.36 million, a P/E ratio of -4.25 and a beta of 0.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 0.88.

Fluent (NASDAQ:FLNT - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. The business had revenue of $48.45 million for the quarter, compared to the consensus estimate of $44.64 million. Fluent had a negative net margin of 11.48% and a negative return on equity of 155.09%. Research analysts predict that Fluent, Inc. will post -0.52 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David Graff sold 25,000 shares of Fluent stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $3.00, for a total value of $75,000.00. Following the completion of the transaction, the director directly owned 95,438 shares in the company, valued at approximately $286,314. The trade was a 20.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Global Value Investment Corp. bought 12,376 shares of the stock in a transaction on Monday, September 14th. The shares were acquired at an average cost of $3.38 per share, for a total transaction of $41,830.88. Following the acquisition, the insider directly owned 3,229,627 shares in the company, valued at approximately $10,916,139.26. This trade represents a 0.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 27,575 shares of company stock valued at $92,357 and have sold 28,830 shares valued at $89,764. Insiders own 38.40% of the company's stock.

Institutional Trading of Fluent

A number of hedge funds and other institutional investors have recently made changes to their positions in FLNT. 4WEALTH Advisors Inc. lifted its holdings in Fluent by 27.1% during the 1st quarter. 4WEALTH Advisors Inc. now owns 22,237 shares of the company's stock worth $69,000 after purchasing an additional 4,735 shares in the last quarter. Salvus Wealth Management LLC grew its holdings in Fluent by 54.3% during the 2nd quarter. Salvus Wealth Management LLC now owns 30,008 shares of the company's stock valued at $112,000 after buying an additional 10,560 shares in the last quarter. Sei Investments Co. grew its holdings in Fluent by 117.5% during the 1st quarter. Sei Investments Co. now owns 508,110 shares of the company's stock valued at $1,606,000 after buying an additional 274,533 shares in the last quarter. Tieton Capital Management LLC purchased a new position in Fluent during the 2nd quarter valued at about $4,387,000. Finally, Corient Private Wealth LP bought a new stake in shares of Fluent during the second quarter valued at about $4,933,000. 23.33% of the stock is currently owned by institutional investors.

Fluent Company Profile

Fluent, Inc is a digital marketing and advertising technology company that helps brands and agencies acquire, engage and retain customers. Its services are designed to support performance marketing campaigns across digital channels, using audience data, targeting tools and campaign optimization capabilities.

The company provides solutions for programmatic advertising, customer acquisition, lead generation and audience engagement. Fluent's offerings are intended to help advertisers reach relevant consumers, manage campaigns across multiple channels and measure marketing outcomes.

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