FiscalNote (NYSE:NOTE) Shares Pass Below 50-Day Moving Average – Here’s What Happened

FiscalNote Holdings, Inc. (NYSE:NOTE) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.57 and traded as low as $1.45. FiscalNote shares last traded at $1.5080, with a volume of 472,436 shares changing hands.

Analyst Ratings Changes

Several brokerages recently weighed in on NOTE. Weiss Ratings reiterated a “sell (e+)” rating on shares of FiscalNote in a research note on Wednesday, October 8th. LADENBURG THALM/SH SH upgraded shares of FiscalNote to a “strong-buy” rating in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, FiscalNote currently has an average rating of “Moderate Buy” and an average target price of $29.25.

FiscalNote Stock Down 3.9%

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 has a 50-day simple moving average of $2.57 and a 200-day simple moving average of $4.96. The stock has a market cap of $23.69 million, a P/E ratio of -0.35 and a beta of 0.59.

FiscalNote (NYSE:NOTE) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.89). FiscalNote had a negative return on equity of 75.96% and a negative net margin of 54.31%.The firm had revenue of $22.43 million during the quarter, compared to analyst estimates of $22.83 million. Analysts expect that FiscalNote Holdings, Inc. will post -0.43 EPS for the current year.

Hedge Funds Weigh In On FiscalNote

Several large investors have recently made changes to their positions in NOTE. Two Sigma Investments LP bought a new stake in FiscalNote during the 3rd quarter valued at approximately $64,000. Raymond James Financial Inc. boosted its position in shares of FiscalNote by 4,900.0% in the third quarter. Raymond James Financial Inc. now owns 15,000 shares of the company’s stock valued at $69,000 after acquiring an additional 14,700 shares during the period. Bank of America Corp DE boosted its position in shares of FiscalNote by 51.5% in 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 period. R Squared Ltd acquired a new stake in shares of FiscalNote in the second quarter worth $27,000. Finally, Yorkville Advisors Global LP bought a new position in FiscalNote during the third quarter worth $440,000. Institutional investors and hedge funds own 54.31% of the company’s stock.

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.