N-able (NYSE:NABL) Sets New 52-Week Low - What's Next?

Shares of N-able, Inc. (NYSE:NABL - Get Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $10.96 and last traded at $10.96, with a volume of 4127 shares trading hands. The stock had previously closed at $11.02.

Analysts Set New Price Targets

A number of brokerages have issued reports on NABL. BMO Capital Markets decreased their price target on N-able from $14.00 to $13.50 and set a "market perform" rating for the company in a report on Friday, November 8th. Needham & Company LLC reissued a "buy" rating and issued a $16.50 target price on shares of N-able in a research report on Monday.

N-able Stock Down 2.0 %

The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 54.03 and a beta of 0.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The firm has a 50 day simple moving average of $12.43 and a 200-day simple moving average of $13.15.

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

Insider Buying and Selling

In related news, EVP Peter C. Anastos sold 16,000 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $13.04, for a total value of $208,640.00. Following the transaction, the executive vice president now directly owns 322,774 shares of the company's stock, valued at approximately $4,208,972.96. The trade was a 4.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On N-able

Institutional investors and hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC purchased a new stake in shares of N-able in the second quarter worth $30,000. GAMMA Investing LLC lifted its position in N-able by 644.2% in the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company's stock worth $56,000 after buying an additional 3,163 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of N-able during the third quarter valued at approximately $146,000. SageView Advisory Group LLC purchased a new stake in N-able in the first quarter worth $148,000. Finally, Entropy Technologies LP bought a new stake in shares of N-able during the third quarter valued at approximately $149,000. 96.35% of the stock is 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.