Days-to-cover ratio for NOTE declines to 6.37 due to decline in short interest

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. FiscalNote Holdings Inc shares valued at $1,916 were sold by Resnik Josh on Mar 07 ’24. At $2.19 per share, Resnik Josh sold 875 shares. The insider’s holdings dropped to 464,323 shares worth approximately $0.78 million following the completion of this transaction.

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Also, Slabaugh Jon sold 866 shares, netting a total of over 1,897 in proceeds. Following the sale of shares at $2.19 each, the insider now holds 141,305 shares.

Before that, Hwang Tim had sold 29,284 shares from its account. In a trade valued at $53,250, the Chairman, CEO and Director traded FiscalNote Holdings Inc shares for $1.82 each. Upon closing the transaction, the insider’s holdings decreased to 29,284 shares, worth approximately $4.72 million.

As published in a research note from BTIG Research on November 15, 2023, FiscalNote Holdings Inc [NOTE] has been rated down from a Buy to a Neutral. Analysts at B. Riley Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in late July. As of June 21, 2023, ROTH MKM has initiated its “Buy” rating for NOTE. Earlier on November 14, 2022, DA Davidson downgraded its rating. Their new recommendation was “a Neutral” for NOTE stock which previously was a “a Buy”.

Analyzing NOTE Stock Performance

During the last five days, there has been a drop of approximately -15.58%. Over the course of the year, FiscalNote Holdings Inc shares have jumped approximately 47.37%. Shares of the company reached a 52-week high of $2.2700 on 03/11/24 and a 52-week low of $0.8700 on 01/19/24. A 50-day SMA is recorded $1.3892, while a 200-day SMA reached $2.0198. Nevertheless, trading volume fell to 0.95 million shares from 1.73 million shares the previous day.

Support And Resistance Levels for FiscalNote Holdings Inc (NOTE)

According to the 24-hour chart, there is a support level at 1.6200, which, if violated, would cause prices to drop to 1.5600. In the upper region, resistance lies at 1.7400. The next price resistance is at 1.8000. RSI (Relative Strength Index) is 50.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0345, which suggests the price will decrease in the coming days. Percent R is at 72.92%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is FiscalNote Holdings Inc subject to short interest?

Stocks of FiscalNote Holdings Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by 70000.0 shares to 6.14 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 6.21 million shares. A decline of -1.14% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.37 of the overall float, the days-to-cover ratio (short ratio) decline to 6.37.

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