FiscalNote (NYSE:NOTE) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?

FiscalNote Holdings, Inc. (NYSE:NOTE) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.24 and traded as low as $1.66. FiscalNote shares last traded at $1.76, with a volume of 154,964 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NOTE shares. LADENBURG THALM/SH SH upgraded FiscalNote to a “strong-buy” rating in a report on Thursday, December 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of FiscalNote in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.25.

FiscalNote Stock Up 3.5%

The company has a market cap of $27.65 million, a P/E ratio of -0.41 and a beta of 0.62. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.66. The business’s 50 day moving average is $2.24 and its 200 day moving average is $4.76.

FiscalNote (NYSE:NOTE) last announced its earnings results on Thursday, November 6th. The company reported ($1.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.89). The company had revenue of $22.43 million for the quarter, compared to the consensus estimate of $22.83 million. FiscalNote had a negative net margin of 54.31% and a negative return on equity of 75.96%. As a group, equities analysts anticipate that FiscalNote Holdings, Inc. will post -0.43 earnings per share for the current fiscal year.

Institutional Trading of FiscalNote

Hedge funds have recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of FiscalNote in the 2nd quarter valued at about $27,000. Bank of America Corp DE lifted its position in FiscalNote by 51.5% during the fourth quarter. Bank of America Corp DE now owns 49,042 shares of the company’s stock valued at $52,000 after acquiring an additional 16,675 shares during the last quarter. Two Sigma Investments LP acquired a new stake in FiscalNote in the third quarter valued at approximately $64,000. Raymond James Financial Inc. grew its holdings in FiscalNote by 4,900.0% in the third quarter. Raymond James Financial Inc. now owns 15,000 shares of the company’s stock worth $69,000 after purchasing an additional 14,700 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of FiscalNote by 25.2% during the second quarter. International Assets Investment Management LLC now owns 158,835 shares of the company’s stock worth $85,000 after purchasing an additional 32,000 shares in the last quarter. 54.31% of the stock is owned by hedge funds and other institutional investors.

FiscalNote Company Profile

FiscalNote is a technology and data services company specializing in government and regulatory intelligence. Founded in 2013 by Timothy Hwang, Gerald Yao and Jonathan Chen, the company is headquartered in Washington, DC, with additional offices in New York, Brussels, London, Singapore and Hong Kong. FiscalNote went public in March 2021 through a special-purpose acquisition company (SPAC) merger and is listed on the New York Stock Exchange under the ticker NOTE.

The company’s flagship software-as-a-service platform aggregates legislative and regulatory data from jurisdictions around the world, combining that information with AI-driven analytics and expert commentary.