The stock of Fluent, Inc. (NASDAQ:FLNT) is now priced at $3.53 and the shares are 0.43 points up or 13.87% higher compared to its previous closing price of $3.1. The stock had 1.53 million contracts set over the past session. FLNT shares’ daily volume is compared to its average trading volume at 280566 shares. However, it has a float of 40.09 million and although its performance was 54.15% over the week, it’s one to watch. Analysts have given the FLNT stock a yearly average price target of $5 per share. It means the stock’s upside potential is 41.64% with the FLNT share price recently placing at $3.08 to $3.88. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are climbing into the Fluent, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the FLNT shares have risen. Short interest in the stock represents just 1.48% of its float, but the volume has raised by 12982. The volume of shorted shares rised to 592325 from 579343 shares over the last two weeks. The average intraday trading volume has been 172936 shares, which means that days to cover moved to roughly 3.425111.
In the last trading session, Fluent, Inc. (NASDAQ:FLNT) raised by $1.24 over the week and gained $1.66 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.9. The stock recorded its established 52-week high on 01/15/20.
Since 03/19/20, the stock has traded to a low of $1.02 at 246.08%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.67. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Fluent, Inc.’s two-week RSI is 80.89. This suggests that the stock is oversold at the moment and that FLNT shares’ price movement remains not stable. The stochastic readings are equally revealing at 76.15% meaning the FLNT share price is currently in oversold territory.
The technical chart shows that the FLNT stock will likely settle at between $3.91 and $4.3 per share. However, if the stock dips below $3.11, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.7.
Currently, the stock is trading in the green of MACD, with a reading of 0.41. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned FLNT a rating of Buy in their intiating review released on August 26. Barrington Research analysts downgraded their recommendation of the stock from Outperform to Mkt Perform in a flash note released to investors on November 12. ROTH Capital seeing the improvements upgraded the stock from Neutral to Buy on May 09, placing it at $5.50 to $8.50.
The average rating for the FLNT equity is 3 and is currently gathering a bullish momentum. Of 2 analysts tracking Fluent, Inc. polled by Reuters, 1 rated FLNT as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the FLNT stock price is 27.15X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Fluent, Inc. (NASDAQ:FLNT) will decrease by about -99.9%, which will see them reach $71.38 million. The company’s full-year revenues are, however, expected to increase by about 7.43%, up from $282 million to $303 million. FLNT’s expected adjusted earnings should drop almost -116.67% to end up at $0.01 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -300% to record $0.04/share.