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Is FiscalNote Holdings Inc.’s (NYSE: NOTE) 12.32% Gain This Week Telling Us Something New?

During the last session, FiscalNote Holdings Inc. (NYSE:NOTE)’s traded shares were 1.36 million. At the end of the trading day, the stock’s price was $2.37, reflecting an intraday gain of 9.22% or $0.2. The 52-week high for the NOTE share is $12.30, that puts it down -418.99 from that peak though still a striking 44.73% gain since the share price plummeted to a 52-week low of $1.31. The company’s market capitalization is $310.49M, and the average intraday trading volume over the past 10 days was 2.22 million shares, and the average trade volume was 2.61 million shares over the past three months.

FiscalNote Holdings Inc. (NOTE) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.00. NOTE has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.16.

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FiscalNote Holdings Inc. (NYSE:NOTE) trade information

FiscalNote Holdings Inc. (NOTE) registered a 9.22% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 9.22% in intraday trading to $2.37 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 12.32%, and it has moved by 37.79% in 30 days. Based on these gigs, the overall price performance for the year is -76.13%. The short interest in FiscalNote Holdings Inc. (NYSE:NOTE) is 4.75 million shares and it means that shorts have 2.18 day(s) to cover.

The consensus price target of analysts on Wall Street is $6.50, which implies an increase of 63.54% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.00 and $9.00 respectively. As a result, NOTE is trading at a discount of -279.75% off the target high and 15.61% off the low.

FiscalNote Holdings Inc. (NOTE) estimates and forecasts

Statistics show that FiscalNote Holdings Inc. has outperformed its competitors in share price, compared to the industry in which it operates. FiscalNote Holdings Inc. (NOTE) shares have gone down -60.30% during the last six months, with a year-to-date growth rate more than the industry average at 84.52% against 18.80. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 94.80% this quarter and then jump 89.90% in the quarter after that. In the rating firms’ projections, revenue will increase 21.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $33.04 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $35.21 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $27.17 million and $29.07 million respectively. In this case, analysts expect current quarter sales to grow by 21.60% and then jump by 21.10% in the coming quarter.

While earnings are projected to return 21.90% in 2023.

NOTE Dividends

FiscalNote Holdings Inc. is due to release its next quarterly earnings in June. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

FiscalNote Holdings Inc. (NYSE:NOTE)’s Major holders

FiscalNote Holdings Inc. insiders own 9.10% of total outstanding shares while institutional holders control 50.99%, with the float percentage being 56.10%. Maso Capital Partners Ltd. is the largest shareholder of the company, while 32 institutions own stock in it. As of Mar 30, 2023, the company held over 28.91 million shares (or 23.01% of all shares), a total value of $64.48 million in shares.

The next largest institutional holding, with 5.82 million shares, is of Stonehill Capital Management LLC’s that is approximately 4.63% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $12.99 million.

Also, the Mutual Funds coming in first place with the largest holdings of FiscalNote Holdings Inc. (NOTE) shares are Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Extended Market Index Fund owns about 0.95 million shares. This amounts to just over 0.75 percent of the company’s overall shares, with a $5.99 million market value. The same data shows that the other fund manager holds slightly less at 0.37 million, or about 0.29% of the stock, which is worth about $0.86 million.

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