FiscalNote Holdings, Inc. (NYSE:NOTE) Sees Large Increase in Short Interest

FiscalNote Holdings, Inc. (NYSE:NOTE) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 2,863,207 shares, an increase of 48.6% from the January 29th total of 1,926,270 shares. Based on an average trading volume of 1,537,480 shares, the days-to-cover ratio is currently 1.9 days. Currently, 28.8% of the shares of the company are short sold. Currently, 28.8% of the shares of the company are short sold. Based on an average trading volume of 1,537,480 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD purchased a new stake in shares of FiscalNote during the fourth quarter valued at $36,000. XTX Topco Ltd lifted its holdings in FiscalNote by 131.4% during the 4th quarter. XTX Topco Ltd now owns 35,516 shares of the company’s stock valued at $52,000 after buying an additional 20,166 shares in the last quarter. Bank of America Corp DE boosted its position in FiscalNote by 51.5% in the 4th quarter. Bank of America Corp DE now owns 49,042 shares of the company’s stock valued at $52,000 after buying an additional 16,675 shares during the period. Two Sigma Investments LP bought a new position in FiscalNote in the 3rd quarter worth about $64,000. Finally, Raymond James Financial Inc. grew its stake in FiscalNote by 4,900.0% in the 3rd quarter. Raymond James Financial Inc. now owns 15,000 shares of the company’s stock worth $69,000 after acquiring an additional 14,700 shares in the last quarter. Institutional investors own 54.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on NOTE shares. LADENBURG THALM/SH SH raised FiscalNote to a “strong-buy” rating in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FiscalNote in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, FiscalNote currently has an average rating of “Moderate Buy” and an average target price of $29.25.

FiscalNote Price Performance

Shares of FiscalNote stock traded down $0.08 during trading on Friday, reaching $1.07. 520,572 shares of the stock traded hands, compared to its average volume of 1,066,427. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.01 and a quick ratio of 1.01. FiscalNote has a 52-week low of $0.80 and a 52-week high of $15.00. The business has a fifty day simple moving average of $1.39 and a two-hundred day simple moving average of $3.06. The company has a market capitalization of $16.73 million, a price-to-earnings ratio of -0.25 and a beta of 0.62.

FiscalNote Company Profile

FiscalNote is a technology and data services company specializing in government and regulatory intelligence. Founded in 2013 by Timothy Hwang, Gerald Yao and Jonathan Chen, the company is headquartered in Washington, DC, with additional offices in New York, Brussels, London, Singapore and Hong Kong. FiscalNote went public in March 2021 through a special-purpose acquisition company (SPAC) merger and is listed on the New York Stock Exchange under the ticker NOTE.

The company’s flagship software-as-a-service platform aggregates legislative and regulatory data from jurisdictions around the world, combining that information with AI-driven analytics and expert commentary.