Abacus Life, Inc. (NASDAQ:ABL) Short Interest Down 53.7% in June

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 172,600 shares, a drop of 53.7% from the June 15th total of 372,400 shares. Based on an average daily volume of 61,300 shares, the days-to-cover ratio is currently 2.8 days. Approximately 7.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Piper Sandler assumed coverage on Abacus Life in a research note on Wednesday, June 26th. They issued an "overweight" rating and a $12.00 target price on the stock. B. Riley reaffirmed a "buy" rating and set a $15.00 price objective (down previously from $16.00) on shares of Abacus Life in a report on Monday, June 24th. Finally, B. Riley Financial dropped their price objective on Abacus Life from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, June 24th.

Institutional Trading of Abacus Life

An institutional investor recently bought a new position in Abacus Life stock. Quarry LP acquired a new stake in Abacus Life, Inc. (NASDAQ:ABL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,944 shares of the company's stock, valued at approximately $463,000. Quarry LP owned approximately 0.08% of Abacus Life as of its most recent SEC filing.

Abacus Life Price Performance

ABL stock traded up $0.06 on Friday, reaching $8.58. 33,623 shares of the company's stock were exchanged, compared to its average volume of 49,375. The stock has a fifty day moving average of $10.31 and a 200-day moving average of $11.23. Abacus Life has a twelve month low of $5.47 and a twelve month high of $13.25. The firm has a market cap of $548.43 million, a PE ratio of 429.21 and a beta of 0.12. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 1.03.

Abacus Life (NASDAQ:ABL - Get Free Report) last posted its earnings results on Monday, May 13th. The company reported $0.11 earnings per share for the quarter. The company had revenue of $21.49 million for the quarter. Abacus Life had a return on equity of 4.96% and a net margin of 0.11%. As a group, equities analysts predict that Abacus Life will post 0.5 EPS for the current fiscal year.

About Abacus Life

Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.