FiscalNote (NYSE:NOTE) Rating Lowered to Sell at 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 analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently commented on the stock. D. Boral Capital restated a "buy" rating and issued a $3.75 price target on shares of FiscalNote in a report on Tuesday, May 13th. 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 for the company. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $2.44.

FiscalNote Trading Down 1.5%

Shares of NOTE stock traded down $0.01 during trading hours on Friday, hitting $0.55. 1,935,444 shares of the company's stock traded hands, compared to its average volume of 2,897,452. FiscalNote has a 12 month low of $0.48 and a 12 month high of $2.03. The stock's 50 day simple moving average is $0.63 and its 200 day simple moving average is $0.83. The stock has a market cap of $86.55 million, a PE ratio of -1.71 and a beta of 0.59. 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 (NYSE:NOTE - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share 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, sell-side analysts anticipate that FiscalNote will post -0.43 EPS for the current year.

Insider Buying and Selling at FiscalNote

In related news, Director Tim Hwang sold 56,155 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $0.58, for a total transaction of $32,569.90. Following the transaction, the director directly owned 2,700,406 shares of the company's stock, valued at $1,566,235.48. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 138,758 shares of company stock worth $85,834 over the last 90 days. 41.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On FiscalNote

Several hedge funds have recently bought and sold shares of NOTE. Kennedy Capital Management LLC increased its stake in shares of FiscalNote by 154.9% in the 4th quarter. Kennedy Capital Management LLC now owns 2,272,722 shares of the company's stock worth $2,432,000 after acquiring an additional 1,381,166 shares in the last quarter. Focus Partners Wealth increased its stake in shares of FiscalNote by 830.9% in the 1st quarter. Focus Partners Wealth now owns 800,033 shares of the company's stock worth $647,000 after acquiring an additional 714,091 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of FiscalNote by 147.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 470,000 shares of the company's stock worth $252,000 after acquiring an additional 280,000 shares in the last quarter. Nuveen LLC bought a new position in shares of FiscalNote in the 1st quarter worth about $147,000. Finally, Deutsche Bank AG increased its stake in shares of FiscalNote by 425.0% in the 4th quarter. Deutsche Bank AG now owns 139,997 shares of the company's stock worth $150,000 after acquiring an additional 113,333 shares in the last quarter. Hedge funds and other institutional investors own 54.31% of the company's stock.

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.