N-able (NYSE:NABL) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of N-able, Inc. (NYSE:NABL) saw an uptick in trading volume on Monday . 1,014,005 shares were traded 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 equities research analysts have commented on NABL shares. BMO Capital Markets cut their target price on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Friday, November 8th. Scotiabank upgraded shares of N-able to a “hold” rating in a research note on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of N-able in a research note on Friday, November 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $15.00 price objective on shares of N-able in a research note on Thursday, November 21st.

N-able Trading Up 3.1 %

The stock has a market capitalization of $1.78 billion, a PE ratio of 48.00 and a beta of 0.41. The stock’s 50 day moving average price is $10.54 and its 200-day moving average price is $12.35. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $116.40 million during the quarter, compared to analyst estimates of $114.75 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. N-able’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 EPS. On average, sell-side analysts expect that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On N-able

A number of hedge funds have recently made changes to their positions in the company. Verition Fund Management LLC bought a new position in shares of N-able during the 3rd quarter valued at approximately $146,000. Entropy Technologies LP purchased a new position in shares of N-able in the 3rd quarter worth $149,000. Aigen Investment Management LP grew its stake 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 worth $182,000 after buying an additional 3,863 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of N-able in the 3rd quarter worth about $188,000. Finally, Handelsbanken Fonder AB purchased a new position in N-able in the third quarter worth about $221,000. 96.35% of the stock is currently owned by hedge funds and other 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.