Traders Purchase Large Volume of FiscalNote Call Options (NYSE:NOTE)

FiscalNote Holdings, Inc. (NYSE:NOTE - Get Free Report) was the recipient of some unusual options trading on Friday. Investors purchased 2,364 call options on the company. This represents an increase of approximately 1,718% compared to the typical daily volume of 130 call options.

FiscalNote Price Performance

NOTE stock traded up $0.18 during mid-day trading on Friday, reaching $1.08. The company's stock had a trading volume of 2,768,051 shares, compared to its average volume of 689,610. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.44. The company's 50 day moving average is $0.97 and its two-hundred day moving average is $1.25. FiscalNote has a fifty-two week low of $0.75 and a fifty-two week high of $2.27. The stock has a market cap of $152.52 million, a PE ratio of -4.91 and a beta of 0.48.

Insider Activity

In related news, CEO Tim Hwang sold 22,186 shares of the firm's stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $1.18, for a total value of $26,179.48. Following the transaction, the chief executive officer now directly owns 2,471,867 shares of the company's stock, valued at approximately $2,916,803.06. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 55,910 shares of company stock worth $66,825 in the last quarter. Corporate insiders own 47.59% of the company's stock.

Hedge Funds Weigh In On FiscalNote

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in FiscalNote by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 4,157,496 shares of the company's stock valued at $5,529,000 after buying an additional 12,853 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of FiscalNote in the second quarter valued at about $608,000. Squarepoint Ops LLC increased its position in FiscalNote by 181.9% during the second quarter. Squarepoint Ops LLC now owns 149,490 shares of the company's stock worth $218,000 after purchasing an additional 96,457 shares during the last quarter. AQR Capital Management LLC purchased a new position in FiscalNote during the second quarter worth about $26,000. Finally, International Assets Investment Management LLC raised its stake in FiscalNote by 35.1% during the third quarter. International Assets Investment Management LLC now owns 134,656 shares of the company's stock worth $172,000 after purchasing an additional 34,956 shares during the period. Hedge funds and other institutional investors own 54.31% of the company's stock.

Analysts Set New Price Targets

NOTE has been the topic of several research reports. EF Hutton Acquisition Co. I upgraded FiscalNote to a "strong-buy" rating in a research report on Monday, October 28th. B. Riley reduced their price objective on FiscalNote from $2.00 to $1.75 and set a "buy" rating for the company in a research note on Wednesday, November 13th.

FiscalNote Company Profile

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.