B. Riley Financial (NASDAQ:RILY) Stock Price Passes Below 50-Day Moving Average – Here’s What Happened

B. Riley Financial, Inc. (NASDAQ:RILY)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $8.55 and traded as low as $8.50. B. Riley Financial shares last traded at $8.72, with a volume of 719,080 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of B. Riley Financial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

B. Riley Financial Stock Up 3.1%

The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 10.30. The company has a market capitalization of $323.78 million, a price-to-earnings ratio of 0.52 and a beta of 1.18. The firm’s 50 day simple moving average is $8.55 and its 200-day simple moving average is $7.22.

B. Riley Financial (NASDAQ:RILY) last issued its earnings results on Thursday, May 7th. The asset manager reported $6.57 EPS for the quarter. The company had revenue of $217.19 million for the quarter. B. Riley Financial had a net margin of 46.81% and a negative return on equity of 330.83%.

Institutional Investors Weigh In On B. Riley Financial

Several institutional investors have recently made changes to their positions in RILY. XTX Topco Ltd boosted its position in shares of B. Riley Financial by 4.2% during the 2nd quarter. XTX Topco Ltd now owns 62,517 shares of the asset manager’s stock worth $186,000 after purchasing an additional 2,531 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of B. Riley Financial by 144.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,504 shares of the asset manager’s stock worth $43,000 after purchasing an additional 8,582 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of B. Riley Financial during the 2nd quarter worth $45,000. Federated Hermes Inc. boosted its position in shares of B. Riley Financial by 78.0% during the 2nd quarter. Federated Hermes Inc. now owns 179,960 shares of the asset manager’s stock worth $534,000 after purchasing an additional 78,847 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its position in shares of B. Riley Financial by 70.0% during the 2nd quarter. Engineers Gate Manager LP now owns 17,106 shares of the asset manager’s stock worth $51,000 after purchasing an additional 7,044 shares in the last quarter. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

B. Riley Financial Company Profile

B. Riley Financial, Inc, headquartered in Los Angeles, California, is a diversified financial services company offering a broad range of advisory and investment solutions to individual, corporate and institutional clients. Since its founding in 1997 by Bryant E. Riley, the firm has expanded its capabilities across two primary segments: financial solutions and operations solutions. Its financial solutions segment provides investment banking services, equity research, merger and acquisition advisory, corporate finance, restructuring advisory and private capital solutions.

In addition to traditional investment banking, B.