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Bullish Prospects For FiscalNote Holdings Inc. (NYSE: NOTE) Shares In 2023

FiscalNote Holdings Inc. (NYSE:NOTE) price on Friday, March 17, rose 0.67% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.50.

A look at the stock’s price movement, the close in the last trading session was $1.49, moving within a range at $1.41 and $1.55. The beta value (5-Year monthly) was -0.37. Turning to its 52-week performance, $12.30 and $1.36 were the 52-week high and 52-week low respectively. Overall, NOTE moved -55.88% over the past month.

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FiscalNote Holdings Inc.’s market cap currently stands at around $201.33 million. Analysts project the company’s earnings per share (EPS) to be -$0.13, which has seen fiscal year 2022 EPS growth forecast to increase to -$2.07 and about -$0.45 for fiscal year 2023.

Analysts have a consensus estimate of $30.82 million for the company’s revenue for the quarter, with a low and high estimate of $30.52 million and $31.18 million respectively.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that NOTE is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.

NOTE’s current price about -32.69% and -59.31% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 19.94, while 7-day volatility ratio is 13.79% and 10.46% in the 30-day chart. Further, FiscalNote Holdings Inc. (NOTE) has a beta value of 0, and an average true range (ATR) of 0.25.

In the market, a comparison of FiscalNote Holdings Inc. (NOTE) and its peers suggest the former has performed considerably stronger. Data shows NOTE’s intraday price has changed 0.67% in last session and -84.87% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.

If we refocus on FiscalNote Holdings Inc. (NYSE:NOTE), historical trading data shows that trading volumes averaged 0.75 million over the past 10 days and 343.81K over the past 3 months. The company’s latest data on shares outstanding shows there are 131.19 million shares.

The 1.40% of FiscalNote Holdings Inc.’s shares are in the hands of company insiders while institutional holders own 40.30% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 1.42 million on Jan 12, 2023, giving us a short ratio of 15.26. The data shows that as of Jan 12, 2023 short interest in FiscalNote Holdings Inc. (NOTE) stood at 1.08% of shares outstanding, with shares short rising to 1.15 million registered in Dec 14, 2022. Current price change has pushed the stock -76.30% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NOTE stock continues to rise going into the next quarter.

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