B. Riley Financial (NASDAQ:RILY) Stock Passes Below 50-Day Moving Average – What’s Next?

B. Riley Financial, Inc. (NASDAQ:RILY)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.76 and traded as low as $4.16. B. Riley Financial shares last traded at $4.32, with a volume of 494,274 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded B. Riley Financial to a “sell” rating in a research note on Tuesday, January 14th.

B. Riley Financial Stock Up 0.7 %

The stock has a fifty day moving average of $4.76 and a 200-day moving average of $6.14. The stock has a market capitalization of $131.76 million, a price-to-earnings ratio of -0.21 and a beta of 1.30.

B. Riley Financial (NASDAQ:RILY) last issued its quarterly earnings data on Monday, January 13th. The asset manager reported ($14.35) earnings per share for the quarter. B. Riley Financial had a negative return on equity of 236.88% and a negative net margin of 48.04%.

Hedge Funds Weigh In On B. Riley Financial

Several hedge funds have recently made changes to their positions in RILY. Straight Path Wealth Management boosted its position in shares of B. Riley Financial by 30.0% in the 3rd quarter. Straight Path Wealth Management now owns 84,500 shares of the asset manager’s stock valued at $444,000 after purchasing an additional 19,500 shares during the period. XTX Topco Ltd lifted its stake in B. Riley Financial by 72.9% in the third quarter. XTX Topco Ltd now owns 33,755 shares of the asset manager’s stock valued at $177,000 after buying an additional 14,232 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in B. Riley Financial by 136.0% in the third quarter. BNP Paribas Financial Markets now owns 21,787 shares of the asset manager’s stock valued at $114,000 after buying an additional 12,557 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of B. Riley Financial by 37.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,658 shares of the asset manager’s stock valued at $114,000 after acquiring an additional 5,920 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of B. Riley Financial in the 3rd quarter valued at $100,000. Hedge funds and other institutional investors own 50.20% of the company’s stock.

About B. Riley Financial

B. Riley Financial, Inc, through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America, Australia, the Asia Pacific, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.