N-able (NYSE:NABL) Reaches New 1-Year Low - Here's Why

N-able, Inc. (NYSE:NABL - Get Free Report)'s stock price reached a new 52-week low during trading on Friday . The company traded as low as $6.66 and last traded at $6.71, with a volume of 1717338 shares. The stock had previously closed at $7.10.

Analyst Ratings Changes

A number of research firms have commented on NABL. BMO Capital Markets reissued a "market perform" rating and issued a $8.50 price target (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. William Blair restated an "outperform" rating on shares of N-able in a research report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price target on shares of N-able in a research note on Friday, March 14th. Scotiabank raised their price target on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a research note on Friday, March 14th. Finally, Royal Bank of Canada dropped their price objective on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $9.38.

N-able Trading Up 11.1 %

The firm's 50 day simple moving average is $8.34 and its 200-day simple moving average is $9.97. 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 company has a market capitalization of $1.33 billion, a PE ratio of 35.10 and a beta of 0.57.

N-able announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 12th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Institutional Trading of N-able

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its stake in N-able by 95.5% during the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock worth $29,000 after purchasing an additional 1,528 shares during the period. Aquatic Capital Management LLC bought a new stake in N-able in the 4th quarter valued at approximately $29,000. Tower Research Capital LLC TRC boosted its position in N-able by 67.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock valued at $30,000 after purchasing an additional 1,309 shares during the last quarter. KBC Group NV increased its holdings in shares of N-able by 104.7% during the 4th quarter. KBC Group NV now owns 5,490 shares of the company's stock worth $51,000 after acquiring an additional 2,808 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of N-able in the fourth quarter valued at about $83,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

N-able Company Profile

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.