NEW YORK (TheStreet) -- Shares of Rocket Fuel (FUEL) are down by 1.47% to $2.65 on heavy trading volume on Wednesday afternoon, even though the Redwood City, CA-based company posted better-than-expected results for the 2016 first quarter.

After yesterday's closing bell, the advertising technology company reported a net loss of 28 cents per diluted share, narrower than the loss of 53 cents per share analysts had expected.

Revenue for the period was $104.7 million, higher than Wall Street's forecasts of $94.2 million.

"I am pleased we have started 2016 with a good first quarter year-on-year performance and ahead of our guidance ranges on all measures, with higher net revenue, substantially lower operating expenses and thus a much-narrowed loss in a seasonally lighter quarter," CEO Randy Wootton said in a statement.

The company had 1,530 active customers during the quarter compared to 1,487 last year.

Rocket Fuel has developed an artificial intelligence and big data-driven predictive modeling and automated decision-making platform.

About 1.4 million of the company's shares changed hands by this afternoon vs. its average volume of 229,476 shares per day.

Earlier this afternoon, Rocket Fuel stock was trading in the green.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D- on the stock.

The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally disappointing historical performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: FUEL

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