FiscalNote (NYSE:NOTE) Rating Increased to Strong-Buy at EF Hutton Acquisition Co. I

FiscalNote (NYSE:NOTE - Get Free Report) was upgraded by equities research analysts at EF Hutton Acquisition Co. I to a "strong-buy" rating in a research report issued on Monday, Zacks.com reports.

Several other equities research analysts have also recently weighed in on the stock. Northland Securities lowered their price objective on shares of FiscalNote from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Monday, August 12th. B. Riley lowered their price objective on shares of FiscalNote from $2.25 to $2.00 and set a "buy" rating for the company in a research report on Monday, August 12th. Finally, DA Davidson lowered their price objective on shares of FiscalNote from $1.35 to $1.05 and set a "neutral" rating for the company in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, FiscalNote currently has an average rating of "Moderate Buy" and a consensus price target of $2.68.

FiscalNote Price Performance

Shares of FiscalNote stock traded down $0.01 during mid-day trading on Monday, reaching $0.98. 668,952 shares of the stock were exchanged, compared to its average volume of 667,521. The company has a market cap of $131.69 million, a price-to-earnings ratio of -2.73 and a beta of 0.43. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36. The firm has a 50-day simple moving average of $1.21 and a 200 day simple moving average of $1.36. FiscalNote has a fifty-two week low of $0.65 and a fifty-two week high of $2.27.

FiscalNote (NYSE:NOTE - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.04. The business had revenue of $29.25 million during the quarter, compared to analysts' expectations of $29.05 million. FiscalNote had a negative net margin of 36.20% and a negative return on equity of 115.06%. During the same quarter last year, the company posted ($0.23) EPS. On average, sell-side analysts predict that FiscalNote will post -0.43 EPS for the current fiscal year.

Insider Transactions at FiscalNote

In other news, CEO Tim Hwang sold 64,211 shares of FiscalNote stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $1.27, for a total transaction of $81,547.97. Following the completion of the sale, the chief executive officer now owns 2,541,513 shares in the company, valued at $3,227,721.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 186,534 shares of company stock worth $242,434 in the last quarter. 47.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC bought a new position in FiscalNote during the 2nd quarter worth approximately $26,000. Natixis bought a new position in FiscalNote during the 1st quarter worth approximately $40,000. International Assets Investment Management LLC boosted its stake in FiscalNote by 35.1% during the 3rd quarter. International Assets Investment Management LLC now owns 134,656 shares of the company's stock worth $172,000 after acquiring an additional 34,956 shares during the last quarter. Squarepoint Ops LLC boosted its stake in FiscalNote by 181.9% during the 2nd quarter. Squarepoint Ops LLC now owns 149,490 shares of the company's stock worth $218,000 after acquiring an additional 96,457 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in FiscalNote in the second quarter valued at approximately $608,000. Institutional investors own 54.31% of the company's stock.

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.