FiscalNote Holdings, Inc. (NYSE:NOTE) Sees Significant Drop in Short Interest

FiscalNote Holdings, Inc. (NYSE:NOTE) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 8,480,000 shares, a decrease of 12.8% from the December 31st total of 9,720,000 shares. Approximately 7.3% of the shares of the company are sold short. Based on an average trading volume of 2,240,000 shares, the short-interest ratio is presently 3.8 days.

Hedge Funds Weigh In On FiscalNote

A number of large investors have recently modified their holdings of the business. Stonehill Capital Management LLC purchased a new position in FiscalNote in the 3rd quarter valued at approximately $995,000. Squarepoint Ops LLC increased its stake in FiscalNote by 181.9% in the 2nd quarter. Squarepoint Ops LLC now owns 149,490 shares of the company’s stock valued at $218,000 after purchasing an additional 96,457 shares in the last quarter. International Assets Investment Management LLC increased its stake in FiscalNote by 35.1% in the 3rd quarter. International Assets Investment Management LLC now owns 134,656 shares of the company’s stock valued at $172,000 after purchasing an additional 34,956 shares in the last quarter. State Street Corp increased its stake in FiscalNote by 1.4% in the 3rd quarter. State Street Corp now owns 1,261,429 shares of the company’s stock valued at $1,615,000 after purchasing an additional 17,624 shares in the last quarter. Finally, Barclays PLC increased its stake in FiscalNote by 318.2% in the 3rd quarter. Barclays PLC now owns 86,286 shares of the company’s stock valued at $110,000 after purchasing an additional 65,655 shares in the last quarter. 54.31% of the stock is owned by hedge funds and other institutional investors.

FiscalNote Price Performance

Shares of NOTE stock opened at $1.26 on Monday. The stock has a 50 day simple moving average of $1.14 and a 200-day simple moving average of $1.20. FiscalNote has a 12-month low of $0.75 and a 12-month high of $2.27. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.81 and a quick ratio of 0.81.

Analyst Ratings Changes

Several analysts have commented on NOTE shares. EF Hutton Acquisition Co. I raised FiscalNote to a “strong-buy” rating in a research note 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. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $3.50 price objective on shares of FiscalNote in a research note on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, FiscalNote 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.