B. Riley Financial (NASDAQ:RILY) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

Shares of B. Riley Financial, Inc. (NASDAQ:RILY) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $4.39 and traded as low as $3.00. B. Riley Financial shares last traded at $3.17, with a volume of 1,071,018 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised B. Riley Financial to a “sell” rating in a report on Monday, February 24th.

B. Riley Financial Stock Performance

The firm has a market cap of $96.68 million, a P/E ratio of -0.15 and a beta of 1.34. The firm has a 50 day simple moving average of $4.39 and a 200 day simple moving average of $4.86.

B. Riley Financial (NASDAQ:RILY) last released its quarterly earnings data on Friday, February 21st. The asset manager reported ($4.97) EPS for the quarter. The firm had revenue of $199.31 million during the quarter. B. Riley Financial had a negative net margin of 48.04% and a negative return on equity of 236.88%.

Hedge Funds Weigh In On B. Riley Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new stake in shares of B. Riley Financial during the 3rd quarter valued at $100,000. FMR LLC increased its holdings in shares of B. Riley Financial by 1,085.3% in the third quarter. FMR LLC now owns 10,075 shares of the asset manager’s stock worth $53,000 after buying an additional 9,225 shares during the period. JPMorgan Chase & Co. lifted its position in B. Riley Financial by 37.6% in the third quarter. JPMorgan Chase & Co. now owns 21,658 shares of the asset manager’s stock valued at $114,000 after purchasing an additional 5,920 shares during the last quarter. Jones Financial Companies Lllp boosted its position in B. Riley Financial by 1,049.1% during the 4th quarter. Jones Financial Companies Lllp now owns 9,710 shares of the asset manager’s stock valued at $45,000 after buying an additional 8,865 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of B. Riley Financial by 136.0% during the third quarter. BNP Paribas Financial Markets now owns 21,787 shares of the asset manager’s stock worth $114,000 after purchasing an additional 12,557 shares during the period. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

B. Riley Financial Company Profile

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.