B. Riley Cuts FiscalNote (NYSE:NOTE) Price Target to $2.00

FiscalNote (NYSE:NOTE) had its target price decreased by research analysts at B. Riley from $2.25 to $2.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 62.60% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Northland Securities lowered their target price on shares of FiscalNote from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Monday. DA Davidson reduced their price target on FiscalNote from $1.35 to $1.05 and set a “neutral” rating on the stock in a research report on Friday.

FiscalNote Stock Performance

Shares of NOTE traded down $0.08 during mid-day trading on Monday, reaching $1.23. The company’s stock had a trading volume of 64,034 shares, compared to its average volume of 789,796. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.44. The stock has a market cap of $165.28 million, a P/E ratio of -3.42 and a beta of 0.45. FiscalNote has a 1-year low of $0.65 and a 1-year high of $3.01. The business has a 50-day simple moving average of $1.54 and a two-hundred day simple moving average of $1.48.

FiscalNote (NYSE:NOTE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. FiscalNote had a negative net margin of 48.89% and a negative return on equity of 141.98%. The business had revenue of $29.25 million for the quarter, compared to analyst estimates of $29.05 million. During the same quarter in the prior year, the business earned ($0.23) EPS. As a group, equities research analysts anticipate that FiscalNote will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Tim Hwang sold 56,319 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $1.41, for a total value of $79,409.79. Following the sale, the chief executive officer now directly owns 2,605,724 shares in the company, valued at $3,674,070.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 135,186 shares of company stock valued at $192,654 in the last three months. Insiders own 47.59% of the company’s stock.

Hedge Funds Weigh In On FiscalNote

Several institutional investors have recently added to or reduced their stakes in the business. Natixis bought a new stake in shares of FiscalNote during the first quarter worth about $40,000. PFG Investments LLC bought a new position in FiscalNote in the 1st quarter valued at about $61,000. International Assets Investment Management LLC boosted its stake in FiscalNote by 196.7% during the 4th quarter. International Assets Investment Management LLC now owns 82,194 shares of the company’s stock valued at $94,000 after purchasing an additional 54,494 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in FiscalNote by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 4,157,496 shares of the company’s stock worth $5,529,000 after purchasing an additional 12,853 shares in the last quarter. 54.31% of the stock is owned by institutional investors and hedge funds.

About FiscalNote

FiscalNote Holdings, Inc operates as technology company North America, Europe, Australia, and Asia. It combines artificial intelligence technology, machine learning, and other technologies with analytics, workflow tools, and expert research. The company also delivers that intelligence through its suite of public policy and issues management products, as well as powerful tools to manage workflows, advocacy campaigns, and constituent relationships.