N-able (NYSE:NABL) Sees Large Volume Increase – Here’s Why

Shares of N-able, Inc. (NYSE:NABL) saw strong trading volume on Monday . 1,014,005 shares changed hands during trading, an increase of 33% from the previous session’s volume of 763,099 shares.The stock last traded at $9.49 and had previously closed at $9.31.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of N-able in a research report on Friday, November 22nd. BMO Capital Markets dropped their target price on N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 price target on shares of N-able in a report on Thursday, November 21st. Finally, Scotiabank raised shares of N-able to a “hold” rating in a report on Friday, December 6th.

N-able Stock Down 0.2 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The firm has a 50 day simple moving average of $10.36 and a two-hundred day simple moving average of $12.26. The stock has a market cap of $1.75 billion, a P/E ratio of 47.15 and a beta of 0.41.

N-able (NYSE:NABL) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. Equities research analysts predict that N-able, Inc. will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On N-able

Hedge funds and other institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC bought a new stake in shares of N-able during the 3rd quarter worth $146,000. Entropy Technologies LP purchased a new stake in shares of N-able during the third quarter valued at $149,000. Aigen Investment Management LP boosted its position in shares of N-able by 38.4% in the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock valued at $182,000 after purchasing an additional 3,863 shares during the period. Intech Investment Management LLC purchased a new position in N-able in the 3rd quarter worth about $188,000. Finally, Handelsbanken Fonder AB purchased a new position in N-able in the 3rd quarter worth about $221,000. 96.35% of the stock is currently owned by institutional investors.

About N-able

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.