FiscalNote (NYSE:NOTE) Share Price Passes Above Fifty Day Moving Average - Time to Sell?

Key Points

• FiscalNote Holdings, Inc. (NYSE:NOTE) shares surged above their 50-day moving average of $0.63 during trading, reaching a high of $0.84 and last trading at $0.75 with over 2.9 million shares exchanged.
• Various analysts have provided significant ratings for FiscalNote, with a consensus recommendation of "Moderate Buy" and an average price target of $2.63, along with several recent upgrades.
• The company reported a revenue of $27.51 million for the last quarter but missed EPS estimates, showing a negative net margin of 39.19% and a return on equity of -59.01%.

FiscalNote Holdings, Inc. (NYSE:NOTE - Get Free Report)'s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $0.63 and traded as high as $0.84. FiscalNote shares last traded at $0.75, with a volume of 2,968,956 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NOTE shares. D. Boral Capital restated a "buy" rating and issued a $3.75 price target on shares of FiscalNote in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of FiscalNote from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH began coverage on shares of FiscalNote in a research report on Thursday, May 1st. They set a "buy" rating and a $2.50 target price on the stock. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $2.63.

FiscalNote Stock Performance

The company has a debt-to-equity ratio of 1.20, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $89.39 million, a P/E ratio of -1.72 and a beta of 0.58. The stock's 50 day moving average is $0.64 and its two-hundred day moving average is $0.89.

FiscalNote (NYSE:NOTE - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). FiscalNote had a negative net margin of 39.19% and a negative return on equity of 59.01%. The firm had revenue of $27.51 million during the quarter, compared to the consensus estimate of $26.43 million. As a group, equities analysts anticipate that FiscalNote Holdings, Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FiscalNote news, Director Tim Hwang sold 40,998 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $0.64, for a total value of $26,238.72. Following the completion of the sale, the director owned 2,793,762 shares of the company's stock, valued at approximately $1,788,007.68. This represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 126,221 shares of company stock valued at $81,106 over the last ninety days. 41.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FiscalNote

Several large investors have recently made changes to their positions in the stock. Kennedy Capital Management LLC increased its position in shares of FiscalNote by 154.9% during the fourth 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. Geode Capital Management LLC grew its position in shares of FiscalNote by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,576,432 shares of the company's stock valued at $1,687,000 after acquiring an additional 25,501 shares during the period. Focus Partners Wealth raised its holdings in shares of FiscalNote by 830.9% in the 1st 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 during the period. Charles Schwab Investment Management Inc. lifted its stake in FiscalNote by 17.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 670,060 shares of the company's stock valued at $541,000 after purchasing an additional 99,115 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in FiscalNote by 7.9% during the fourth quarter. Northern Trust Corp now owns 564,004 shares of the company's stock worth $603,000 after purchasing an additional 41,137 shares during the period. 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.