B. Riley Financial (NASDAQ:RILY) Stock Price Passes Above Fifty Day Moving Average – Here’s What Happened

B. Riley Financial, Inc. (NASDAQ:RILY) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.77 and traded as high as $5.88. B. Riley Financial shares last traded at $5.59, with a volume of 419,765 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of B. Riley Financial in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, B. Riley Financial currently has a consensus rating of “Sell”.

B. Riley Financial Stock Down 1.9%

The stock has a 50 day simple moving average of $5.77 and a 200 day simple moving average of $4.70. The company has a market capitalization of $171.04 million, a price-to-earnings ratio of -0.22 and a beta of 1.48.

B. Riley Financial (NASDAQ:RILY) last announced its quarterly earnings results on Thursday, March 16th. The asset manager reported $2.70 earnings per share for the quarter. The company had revenue of $345.47 million for the quarter.

Institutional Investors Weigh In On B. Riley Financial

Hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC bought a new position in shares of B. Riley Financial during the third quarter worth about $25,000. Addison Advisors LLC boosted its stake in B. Riley Financial by 37.8% during the 2nd quarter. Addison Advisors LLC now owns 11,545 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 3,165 shares during the period. Vident Advisory LLC bought a new position in B. Riley Financial in the 1st quarter worth about $41,000. Russell Investments Group Ltd. increased its stake in shares of B. Riley Financial by 144.9% in the second quarter. Russell Investments Group Ltd. now owns 14,504 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 8,582 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of B. Riley Financial during the second quarter valued at approximately $45,000. 50.20% of the stock is currently owned by 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.