FiscalNote (NYSE:NOTE) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• FiscalNote's stock rating was downgraded from "hold" to "sell" by Wall Street Zen, with an average target price of $2.63.
• The company reported earnings of ($0.08) per share, exceeding analysts' estimates, but has a negative net margin of 41.79%.
• Shares of FiscalNote are currently down 9.5%, trading at $0.57, with a market cap of approximately $90.22 million.

FiscalNote (NYSE:NOTE - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Several other equities research analysts also recently commented on NOTE. D. Boral Capital reiterated a "buy" rating and set a $3.75 target price on shares of FiscalNote in a research report on Tuesday, May 13th. LADENBURG THALM/SH SH initiated coverage on shares of FiscalNote in a research note on Thursday, May 1st. They issued a "buy" rating and a $2.50 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, FiscalNote presently has an average rating of "Moderate Buy" and an average price target of $2.95.

FiscalNote Trading Down 2.9%

Shares of NOTE stock traded down $0.02 during mid-day trading on Friday, reaching $0.56. 1,196,225 shares of the stock traded hands, compared to its average volume of 2,913,922. The stock's fifty day simple moving average is $0.63 and its two-hundred day simple moving average is $0.84. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.20. FiscalNote has a 1-year low of $0.48 and a 1-year high of $2.03. The company has a market cap of $87.97 million, a price-to-earnings ratio of -1.74 and a beta of 0.59.

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

Insider Activity

In other news, Director Tim Hwang sold 56,155 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $0.58, for a total value of $32,569.90. Following the completion of the sale, the director owned 2,700,406 shares in the company, valued at $1,566,235.48. This represents a 2.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 138,758 shares of company stock valued at $85,834. Corporate insiders own 41.75% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its stake in FiscalNote by 27.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 28,621 shares of the company's stock valued at $31,000 after purchasing an additional 6,090 shares during the last quarter. Wells Fargo & Company MN raised its stake in FiscalNote by 58.0% in the 4th quarter. Wells Fargo & Company MN now owns 29,315 shares of the company's stock valued at $31,000 after acquiring an additional 10,765 shares during the period. Barclays PLC raised its stake in FiscalNote by 15.1% in the 4th quarter. Barclays PLC now owns 99,341 shares of the company's stock valued at $106,000 after acquiring an additional 13,055 shares during the period. Mariner LLC increased its position in shares of FiscalNote by 85.3% during the fourth quarter. Mariner LLC now owns 35,662 shares of the company's stock valued at $38,000 after buying an additional 16,418 shares during the period. Finally, Wolverine Trading LLC increased its position in shares of FiscalNote by 95.1% during the fourth quarter. Wolverine Trading LLC now owns 34,137 shares of the company's stock valued at $39,000 after buying an additional 16,637 shares during the period. 54.31% of the stock is currently 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.