The Vanguard Group, Inc. recently announced the acquisition of new stake in FiscalNote Holdings Inc (NYSE:NOTE). The institutional investor has increased its shareholding in the Technology company by 7.11% to 4.05 million shares with purchase of 0.27 million shares. This fresh investment now brings its stake to 3.36% valued currently at $8.42 million. In addition, BlackRock Fund Advisors raised its holdings by 3.1 million to 4.03 million shares. And Millennium Management LLC has lifted its position by 165.65% or 0.99 million shares – to 1.59 million shares.
With over 10.13 million FiscalNote Holdings Inc (NOTE) shares trading Tuesday and a closing price of $0.90 on the day, the dollar volume was approximately $9.12 million. The shares have shown a negative half year performance of -57.56% and its price on 11/14/23 lost nearly -32.16%. Currently, there are 123.13M common shares owned by the public and among those 101.72M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for NOTE have a consensus price objective of $5.11. The analysts have set the share’s price value over the next 12 months at a high of $9.00 and a low of $0.65. The average price target is 82.39% above its recent price level and a downside to the estimated low will see the stock lose -38.46% over that period. But an upside of 90.0% will see the stock hit the forecast high price target while median target price for the stock is $4.75.
Insiders at the company have transacted a total of 125 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 3,254,960 shares. Insider sales of the common stock occurred on 97 occasions, with total insider shares sold totaling 4,254,965 shares.
The top 3 mutual fund holders in FiscalNote Holdings Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market ETF owns 2.64 million shares of the company’s stock, all valued at over $5.49 million. iShares Russell 2000 ETF sold 24605.0 shares to see its total holdings shrink to 1.51 million shares valued at over $3.13 million and representing 1.25% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 0.86% of the shares outstanding.
Shares of FiscalNote Holdings Inc (NYSE: NOTE) opened at $1.43, up $0.11 from a prior closing price of $1.32. However, the script later moved the day high at 1.4500, down -32.16%. The company’s stock has a 5-day price change of -36.49% and -68.69% over the past three months. NOTE shares are trading -85.85% year to date (YTD), with the 12-month market performance down to -82.58% lower. It has a 12-month low price of $1.18 and touched a high of $6.87 over the same period. NOTE has an average intraday trading volume of 746.59K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -38.54%, -51.11%, and -63.12% respectively.
Institutional ownership of FiscalNote Holdings Inc (NYSE: NOTE) shares accounts for 42.98% of the company’s 123.13M shares outstanding. Mutual fund holders own 39.51%, while other institutional holders and individual stakeholders account for 7.90% and 38.46% respectively.
It has a market capitalization of $115.39M and a beta (3y monthly) value of 0.49. The earnings-per-share (ttm) stands at -$2.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 31.22% over the week and 16.52% over the month.
Analysts forecast that FiscalNote Holdings Inc (NOTE) will achieve an EPS of -$0.16 for the current quarter, -$0.15 for the next quarter and -$0.53 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.18 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was -$1.39 a year ago. Earnings per share for the fiscal year are expected to increase by 86.96%, and 28.33% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate FiscalNote Holdings Inc (NOTE) as a “Strong Buy” at a consensus score of 1.33. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NOTE, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on July 26, 2023, with the firm’s price target at $5.
