B. Riley Financial (NASDAQ:RILY) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Shares of B. Riley Financial, Inc. (NASDAQ:RILY) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $7.25 and traded as high as $7.40. B. Riley Financial shares last traded at $7.09, with a volume of 1,052,359 shares traded.

Wall Street Analyst Weigh In

RILY has been the topic of several research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of B. Riley Financial in a research note on Monday, December 29th. Wall Street Zen upgraded shares of B. Riley Financial from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

B. Riley Financial Stock Performance

The business’s 50 day moving average price is $7.36 and its 200-day moving average price is $6.01. The company has a market cap of $233.53 million, a price-to-earnings ratio of 1.06 and a beta of 1.27.

B. Riley Financial (NASDAQ:RILY) last issued its earnings results on Wednesday, January 14th. The asset manager reported $2.91 earnings per share for the quarter. The business had revenue of $75.70 million for the quarter.

Institutional Investors Weigh In On B. Riley Financial

A number of hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new position in B. Riley Financial during the 3rd quarter valued at about $25,000. Addison Advisors LLC increased its holdings in shares of B. Riley Financial by 37.8% during the second quarter. Addison Advisors LLC now owns 11,545 shares of the asset manager’s stock worth $34,000 after buying an additional 3,165 shares in the last quarter. Bank of America Corp DE raised its stake in shares of B. Riley Financial by 237.2% in the third quarter. Bank of America Corp DE now owns 6,963 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 4,898 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of B. Riley Financial by 144.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 14,504 shares of the asset manager’s stock worth $43,000 after acquiring an additional 8,582 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in B. Riley Financial during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 50.20% of the company’s stock.

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.