Canaccord Genuity Group Issues Pessimistic Forecast for Fluent (NASDAQ:FLNT) Stock Price

Fluent (NASDAQ:FLNT) had its target price cut by analysts at Canaccord Genuity Group from $3.50 to $3.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 25.00% from the company’s current price.

Separately, StockNews.com began coverage on shares of Fluent in a research report on Saturday, May 10th. They set a “hold” rating for the company.

Fluent Trading Down 0.4%

FLNT opened at $2.40 on Friday. Fluent has a twelve month low of $2.01 and a twelve month high of $4.24. The company has a 50-day simple moving average of $2.28 and a 200 day simple moving average of $2.62. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $49.55 million, a price-to-earnings ratio of -1.33 and a beta of 1.68.

Fluent (NASDAQ:FLNT) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.07. Fluent had a negative net margin of 10.59% and a negative return on equity of 64.75%. The business had revenue of $55.21 million during the quarter, compared to analysts’ expectations of $57.29 million. During the same quarter in the prior year, the business posted ($0.30) earnings per share. Analysts predict that Fluent will post -1.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. 4WEALTH Advisors Inc. bought a new position in shares of Fluent during the 4th quarter worth approximately $576,000. CacheTech Inc. bought a new position in Fluent during the 4th quarter valued at $76,000. Geode Capital Management LLC increased its position in shares of Fluent by 26.2% during the 4th quarter. Geode Capital Management LLC now owns 92,527 shares of the company’s stock valued at $233,000 after purchasing an additional 19,238 shares during the last quarter. Tieton Capital Management LLC increased its position in shares of Fluent by 25.7% during the 4th quarter. Tieton Capital Management LLC now owns 1,061,885 shares of the company’s stock valued at $2,676,000 after purchasing an additional 216,877 shares during the last quarter. Finally, Intelligence Driven Advisers LLC purchased a new stake in shares of Fluent during the 4th quarter valued at $66,000. Institutional investors and hedge funds own 23.33% of the company’s stock.

Fluent Company Profile

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.