N-able (NYSE:NABL) Sees Large Volume Increase – What’s Next?

N-able, Inc. (NYSE:NABL) shares saw strong trading volume on Monday . 1,014,005 shares changed hands during mid-day 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.

Analyst Upgrades and Downgrades

NABL has been the topic of several research analyst reports. BMO Capital Markets lowered their price objective on shares of 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. Scotiabank raised N-able to a “hold” rating in a research report on Friday, December 6th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of N-able in a research report on Thursday, November 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.50 target price on shares of N-able in a report on Friday, November 22nd.

N-able Price Performance

The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $10.36 and its two-hundred day moving average price is $12.26. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 47.15 and a beta of 0.41.

N-able (NYSE:NABL) last issued its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The company had revenue of $116.40 million for 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%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. Analysts anticipate that N-able, Inc. will post 0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Verition Fund Management LLC acquired a new stake in N-able in the 3rd quarter worth approximately $146,000. Entropy Technologies LP acquired a new stake in shares of N-able in the third quarter worth $149,000. Aigen Investment Management LP lifted its stake in shares of N-able by 38.4% in the third 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 during the last quarter. Intech Investment Management LLC bought a new stake in shares of N-able during the 3rd quarter worth $188,000. Finally, Handelsbanken Fonder AB bought a new position in N-able in the 3rd quarter worth $221,000. Institutional investors own 96.35% of the company’s stock.

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.