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

B. Riley Financial, Inc. (NASDAQ:RILY)’s share 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 changing hands.

Wall Street Analysts Forecast Growth

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

B. Riley Financial Stock Up 3.1%

The company has a debt-to-equity ratio of 10.30, a current ratio of 3.95 and a quick ratio of 3.95. The stock has a fifty day moving average price of $8.55 and a two-hundred day moving average price of $7.22. The company has a market cap of $323.77 million, a P/E ratio of 0.52 and a beta of 1.18.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings 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 purchasing an additional 4,898 shares in the last quarter. Magnus Financial Group LLC bought a new position in shares of B. Riley Financial in the fourth quarter valued at approximately $47,000. Boothbay Fund Management LLC bought a new stake in B. Riley Financial during the fourth quarter worth $60,000. Cresset Asset Management LLC bought a new stake in B. Riley Financial during the third quarter worth $79,000. Finally, Russell Investments Group Ltd. lifted its holdings in B. Riley Financial by 144.9% during the second 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 during the period. Institutional investors own 50.20% of the company’s stock.

About B. Riley Financial

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.