N-able (NYSE:NABL) Trading Down 10.5% – Time to Sell?

N-able, Inc. (NYSE:NABL) shares were down 10.5% during trading on Tuesday . The stock traded as low as $3.64 and last traded at $3.6350. 429,623 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,835,150 shares. The stock had previously closed at $4.06.

Analyst Upgrades and Downgrades

NABL has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of N-able in a research note on Friday, July 17th. Scotiabank lowered their price objective on shares of N-able from $5.75 to $3.65 and set a “sector perform” rating for the company in a research report on Tuesday, August 11th. Zacks Research upgraded shares of N-able from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Royal Bank Of Canada lowered shares of N-able from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $6.00 to $4.00 in a report on Tuesday, August 11th. Finally, BMO Capital Markets decreased their price objective on N-able from $6.00 to $3.75 and set a “market perform” rating on the stock in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.08.

N-able Trading Down 8.7%

The business’s 50 day simple moving average is $4.14 and its 200-day simple moving average is $4.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $699.91 million, a P/E ratio of -185.25 and a beta of 0.49.

N-able (NYSE:NABL) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. N-able had a positive return on equity of 3.55% and a negative net margin of 0.88%.The company had revenue of $138.22 million for the quarter, compared to the consensus estimate of $138.08 million. During the same quarter in the prior year, the business posted $0.11 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, analysts forecast that N-able, Inc. will post 0.23 EPS for the current year.

N-able declared that its Board of Directors has initiated a share buyback program on Friday, August 28th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of N-able

A number of institutional investors and hedge funds have recently modified their holdings of NABL. AQR Capital Management LLC grew its holdings in N-able by 212.6% during the first quarter. AQR Capital Management LLC now owns 124,549 shares of the company’s stock valued at $883,000 after purchasing an additional 84,712 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of N-able by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,485 shares of the company’s stock worth $301,000 after purchasing an additional 1,825 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of N-able in the 2nd quarter valued at $396,000. Norges Bank acquired a new stake in N-able during the 2nd quarter worth $327,000. Finally, Quantbot Technologies LP bought a new position in N-able during the second quarter worth about $207,000. 96.35% of the stock is owned by institutional investors.

About N-able

N-able (NYSE:NABL) is a cloud-based software provider specializing in solutions for managed service providers (MSPs). The company’s platform offers remote monitoring and management (RMM), backup and disaster recovery, endpoint detection and response (EDR), security information and event management (SIEM), and automation tools. By integrating these services into a unified interface, N-able enables MSPs to streamline IT operations, enhance security posture, and deliver proactive maintenance across on-premises, cloud, and hybrid environments.

Headquartered in Toronto, Canada, N-able traces its origins to the managed services division of SolarWinds before completing a spin-off and initial public offering in mid-2021.