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

StockNews.com initiated coverage on shares of Fluent (NASDAQ:FLNT) in a report issued on Friday morning. The brokerage issued a hold rating on the stock.

Fluent Trading Down 8.1 %

FLNT opened at $2.94 on Friday. The company has a market cap of $40.16 million, a price-to-earnings ratio of -0.99 and a beta of 2.31. The company’s 50 day moving average is $3.49 and its 200 day moving average is $3.31. Fluent has a 12-month low of $2.31 and a 12-month high of $4.78.

Fluent (NASDAQ:FLNT) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.29). The business had revenue of $65.98 million during the quarter, compared to analysts’ expectations 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, analysts predict that Fluent will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluent

Several institutional investors and hedge funds have recently modified their holdings of FLNT. Simplicity Wealth LLC bought a new stake in shares of Fluent during the first quarter valued at approximately $90,000. JB Capital Partners LP increased its position in Fluent by 3.1% in the fourth quarter. JB Capital Partners LP now owns 4,958,629 shares of the company’s stock worth $3,322,000 after purchasing an additional 150,150 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Fluent in the fourth quarter worth $71,000. Empowered Funds LLC increased its position in Fluent by 8.2% in the first quarter. Empowered Funds LLC now owns 311,597 shares of the company’s stock worth $154,000 after purchasing an additional 23,592 shares during the last quarter. Finally, Salvus Wealth Management LLC increased its position in Fluent by 4.3% in the first quarter. Salvus Wealth Management LLC now owns 110,875 shares of the company’s stock worth $55,000 after purchasing an additional 4,585 shares during the last quarter. 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.