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

FiscalNote (NYSE:NOTE) had its price objective lowered by equities researchers at B. Riley from $2.25 to $2.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 62.60% from the company’s current price.

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

FiscalNote Stock Down 6.1 %

Shares of NOTE traded down $0.08 during midday trading on Monday, hitting $1.23. The company had a trading volume of 64,034 shares, compared to its average volume of 789,796. The company’s 50-day simple moving average is $1.54 and its 200-day simple moving average is $1.48. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.09 and a current ratio of 1.09. FiscalNote has a 1 year low of $0.65 and a 1 year high of $3.01. The firm has a market capitalization of $165.28 million, a P/E ratio of -3.42 and a beta of 0.45.

FiscalNote (NYSE:NOTE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. The business had revenue of $29.25 million during the quarter, compared to analysts’ expectations of $29.05 million. FiscalNote had a negative return on equity of 141.98% and a negative net margin of 48.89%. During the same period in the prior year, the firm posted ($0.23) EPS. As a group, sell-side analysts expect that FiscalNote will post -0.47 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NOTE. International Assets Investment Management LLC raised its position in FiscalNote by 196.7% during the 4th quarter. International Assets Investment Management LLC now owns 82,194 shares of the company’s stock worth $94,000 after buying an additional 54,494 shares during the last quarter. PFG Investments LLC purchased a new position in FiscalNote during the first quarter worth about $61,000. Natixis purchased a new position in FiscalNote during the first quarter worth about $40,000. Finally, Vanguard Group Inc. lifted its position in FiscalNote by 0.3% in the first quarter. Vanguard Group Inc. now owns 4,157,496 shares of the company’s stock valued at $5,529,000 after purchasing an additional 12,853 shares during the period. Institutional investors and hedge funds own 54.31% of the company’s stock.

FiscalNote Company Profile

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.