Brokerages Set FiscalNote Holdings, Inc. (NYSE:NOTE) PT at $2.95

Shares of FiscalNote Holdings, Inc. (NYSE:NOTE - Get Free Report) have been given an average recommendation of "Buy" by the five brokerages that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $2.4375.

Several equities research analysts have commented on NOTE shares. Wall Street Zen downgraded shares of FiscalNote from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. D. Boral Capital reaffirmed a "buy" rating and set a $3.75 price objective on shares of FiscalNote in a report on Tuesday. Finally, LADENBURG THALM/SH SH started coverage on shares of FiscalNote in a report on Thursday, May 1st. They set a "buy" rating and a $2.50 price objective on the stock.

FiscalNote Stock Performance

NYSE NOTE traded up $0.01 during trading hours on Monday, reaching $0.55. 403,894 shares of the company were exchanged, compared to its average volume of 2,882,253. FiscalNote has a 1 year low of $0.48 and a 1 year high of $2.03. The business's 50 day simple moving average is $0.62 and its 200-day simple moving average is $0.83. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $86.23 million, a P/E ratio of -1.70 and a beta of 0.59.

FiscalNote (NYSE:NOTE - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. The business had revenue of $23.26 million during the quarter, compared to the consensus estimate of $22.83 million. FiscalNote had a negative net margin of 41.79% and a negative return on equity of 60.80%. On average, equities research analysts expect that FiscalNote will post -0.43 earnings per share for the current year.

Insider Activity

In other news, Director Tim Hwang sold 56,155 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $0.58, for a total value of $32,569.90. Following the sale, the director directly owned 2,700,406 shares of the company's stock, valued at approximately $1,566,235.48. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 138,758 shares of company stock valued at $85,834 over the last quarter. Corporate insiders own 40.16% of the company's stock.

Institutional Investors Weigh In On FiscalNote

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kennedy Capital Management LLC raised its stake in FiscalNote by 154.9% in the fourth quarter. Kennedy Capital Management LLC now owns 2,272,722 shares of the company's stock valued at $2,432,000 after purchasing an additional 1,381,166 shares in the last quarter. Focus Partners Wealth raised its stake in FiscalNote by 830.9% in the first quarter. Focus Partners Wealth now owns 800,033 shares of the company's stock valued at $647,000 after purchasing an additional 714,091 shares in the last quarter. Marshall Wace LLP purchased a new stake in FiscalNote in the second quarter valued at approximately $232,000. Citizens Financial Group Inc. RI raised its stake in FiscalNote by 147.4% in the second quarter. Citizens Financial Group Inc. RI now owns 470,000 shares of the company's stock valued at $252,000 after purchasing an additional 280,000 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in FiscalNote by 617.6% in the second quarter. NewEdge Advisors LLC now owns 268,094 shares of the company's stock valued at $144,000 after purchasing an additional 230,733 shares in the last quarter. 54.31% of the stock is owned by hedge funds and other institutional investors.

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.