FiscalNote Sees Unusually Large Options Volume (NYSE:NOTE)

FiscalNote Holdings, Inc. (NYSE:NOTE) was the target of some unusual options trading activity on Monday. Stock traders acquired 2,452 call options on the stock. This represents an increase of approximately 63% compared to the typical volume of 1,501 call options.

FiscalNote Price Performance

Shares of NYSE NOTE traded up $0.07 during mid-day trading on Monday, hitting $1.47. 5,379,453 shares of the stock were exchanged, compared to its average volume of 4,971,379. The company has a market cap of $206.88 million, a P/E ratio of -6.63 and a beta of 0.41. The stock’s fifty day simple moving average is $1.33 and its two-hundred day simple moving average is $1.18. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.81 and a current ratio of 0.81. FiscalNote has a twelve month low of $0.75 and a twelve month high of $2.27.

Insider Activity at FiscalNote

In related news, Director Tim Hwang sold 56,795 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $1.22, for a total value of $69,289.90. Following the completion of the sale, the director now owns 2,237,129 shares in the company, valued at approximately $2,729,297.38. This trade represents a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 71,582 shares of company stock worth $88,314. Company insiders own 41.75% of the company’s stock.

Institutional Trading of FiscalNote

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in shares of FiscalNote by 83.2% in the fourth quarter. SG Americas Securities LLC now owns 25,285 shares of the company’s stock valued at $27,000 after purchasing an additional 11,486 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of FiscalNote by 27.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 28,621 shares of the company’s stock valued at $31,000 after purchasing an additional 6,090 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of FiscalNote by 58.0% in the fourth quarter. Wells Fargo & Company MN now owns 29,315 shares of the company’s stock valued at $31,000 after purchasing an additional 10,765 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of FiscalNote by 250.0% in the fourth quarter. NewEdge Advisors LLC now owns 35,000 shares of the company’s stock valued at $37,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Mariner LLC increased its holdings in shares of FiscalNote by 85.3% in the fourth quarter. Mariner LLC now owns 35,662 shares of the company’s stock valued at $38,000 after purchasing an additional 16,418 shares in the last quarter. Institutional investors and hedge funds own 54.31% of the company’s stock.

Wall Street Analyst Weigh In

NOTE has been the subject of several research reports. B. Riley reduced their target price on shares of FiscalNote from $2.00 to $1.75 and set a “buy” rating for the company in a research note on Wednesday, November 13th. D. Boral Capital reissued a “buy” rating and issued a $3.50 price target on shares of FiscalNote in a research report on Thursday, January 16th. Finally, EF Hutton Acquisition Co. I raised shares of FiscalNote to a “strong-buy” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $2.83.

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.