B. Riley Financial (NASDAQ:RILY) Shares Cross Below Fifty Day Moving Average - What's Next?

Key Points

• B. Riley Financial shares fell below their 50-day moving average, trading as low as $6.16 versus the $7.07 average, and last changing hands at $6.24.
• Analyst sentiment remains negative: Weiss Ratings reiterated a “sell” rating, Wall Street Zen downgraded the stock to “hold,” and MarketBeat reports an average rating of “Sell.”
• The company reported quarterly revenue of $239.36 million and earnings of $0.45 per share, while institutional investors own approximately 50.2% of the stock.

Shares of B. Riley Financial, Inc. (NASDAQ:RILY - Get Free Report) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $7.07 and traded as low as $6.16. B. Riley Financial shares last traded at $6.24, with a volume of 742,722 shares.

Wall Street Analyst Weigh In

RILY has been the topic of a number of recent research reports. Weiss Ratings restated a "sell (d+)" rating on shares of B. Riley Financial in a report on Friday. Wall Street Zen cut shares of B. Riley Financial from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, B. Riley Financial currently has an average rating of "Sell".

B. Riley Financial Stock Down 5.5%

The stock has a market cap of $250.85 million, a P/E ratio of 0.49 and a beta of 1.22. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 7.13. The firm's fifty day moving average is $7.07 and its 200 day moving average is $7.74.

B. Riley Financial (NASDAQ:RILY - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The asset manager reported $0.45 earnings per share for the quarter. The business had revenue of $239.36 million during the quarter. B. Riley Financial had a return on equity of 39,260.09% and a net margin of 35.88%.

Institutional Investors Weigh In On B. Riley Financial

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC bought a new stake in shares of B. Riley Financial in the first quarter valued at about $1,832,000. Bank of America Corp DE increased its stake in B. Riley Financial by 2,715.4% during the first quarter. Bank of America Corp DE now owns 53,830 shares of the asset manager's stock valued at $394,000 after acquiring an additional 51,918 shares during the period. Finally, State of Wyoming bought a new position in B. Riley Financial during the first quarter valued at about $359,000. 50.20% of the stock is owned by institutional investors.

B. Riley Financial Company Profile

B. Riley Financial, Inc is a diversified financial services company headquartered in Los Angeles, California. Through its subsidiaries and operating brands, the company provides investment banking, institutional brokerage, wealth management, asset management and financial advisory services to corporations, institutional investors, private equity sponsors, family offices and individual clients.

The company's investment banking and brokerage operations, including B. Riley Securities, offer equity and debt financing, mergers and acquisitions advisory, research and sales and trading services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.