With the current price of $3.02, the stock of Fluent, Inc. (NASDAQ:FLNT) concluded the trading session seeing its price rise by 0.73 points or at a gain of 31.88% compared to its previous day’s closing price of $2.29. About 4.924 million shares of the stock changed hands on the day. The trading volume of FLNT’s shares during the past session compares with the stock’s average daily trading volume of 174592 shares. On the other hand, a float of 40.09 million shares and a weekly performance of 17.51% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for FLNT’s share which suggests that the stock, price of which is currently buoying between $2.39 and $3.37, is prone to a loss of -100%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $5 to the stock.
The latest data released on August 14, 2020 shows that the short float in the Fluent, Inc.’s stock is trending upward as short interest in FLNT shares climbed up leaving more number of shares available to public for trading. Number of shares shorted in the FLNT is currently comprised of 1.45% of the float as the volume of shorted shares inclined by 12982 shares. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to 592325 shares from the previous figure of 579343 shares. Stock’s average intraday volume is now standing at 172936 shares which indicate that the days to cover the shorts are nearly 3.425111.
After concluding the day’s trading, price of Fluent, Inc. (NASDAQ:FLNT) is up $0.45 over the week and it is $1.17 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $3.9 that was attained on 01/15/20.
The stock has traded as low as $1.02 in past 52-week, and its current price is 196.08% above from that 52-week low price mark recorded on 03/19/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 2.5. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 74.98 as 14-days RSI of Fluent, Inc. This means that the FLNT is currently in an oversold territory and its share’s price movement is likely to be shaky for a while. Similarly, the stochastic oscillator is indicating a momentum of 62.37%, implying stock’s share price is buoying in a neutral state.
Technical chart is showing 1st resistance point of $3.46 for the FLNT’s share while placing it at a 2nd resistance point of $3.91 to be settled at. But if the stock takes a plunge lower than the 1st support price of $2.48 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $1.95.
Canaccord Genuity started covering the FLNT stock on August 26, recommending Buy rating for it while assigning the price target of $5. The stock gets its recommendation downgraded from Outperform to Mkt Perform from the analysts at Barrington Research in their November 12 note to investors.ROTH Capitalanalysts upgraded their recommendation from Neutral to Buy on May 09, while assigning a price target of $5.50 to $8.50.
The average rating of 3 for FLNT is placing the stock in bullish category at the moment. In a poll by Reuters including 2 analysts in it who kept tracking the Fluent, Inc., 1 rated the stock as hold. Others were in different opinions for the FLNT. Out of remaining 1 analysts, 1 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
A quick look at other side of the picture shows that FLNT stock is ahead of earnings per share estimates with a forward price-to-earnings ratio of 50.33.
Projection by Zacks Consensus Estimates suggests that Fluent, Inc. (NASDAQ:FLNT) will see its current-quarter revenues drop by nearly -99.9% to be decreased to about $71.65 million. Full-year revenue of the company is however forecasted to be increased by nearly 5.83% to bring $298 million in revenues against last year revenue of $282 million. Earnings, after adjustments, are likely to fell by -33.33% to post an EPS of -$0.04, while estimate for company’s full year earnings is -$0.03 per share with a growth rate of 50%.