N-able (NYSE:NABL) Sets New 52-Week Low – Here’s Why

N-able, Inc. (NYSE:NABL) reached a new 52-week low on Thursday . The stock 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.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NABL shares. BMO Capital Markets reduced their price target on 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. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 target price on shares of N-able in a research report on Monday, November 11th.

N-able Trading Down 2.4 %

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 $1.96 billion, a price-to-earnings ratio of 52.70 and a beta of 0.47. The company has a 50-day moving average price of $12.39 and a 200-day moving average price of $13.14.

N-able (NYSE:NABL) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The company 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%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. Research analysts predict that N-able, Inc. will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling at N-able

In other news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total transaction of $208,640.00. Following the sale, the executive vice president now owns 322,774 shares of the company’s stock, valued at approximately $4,208,972.96. This trade represents a 4.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NABL. Jacobs Levy Equity Management Inc. bought a new position in N-able during the first quarter worth about $986,000. Stanley Laman Group Ltd. lifted its position in shares of N-able by 25.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 212,406 shares of the company’s stock worth $3,235,000 after buying an additional 43,454 shares during the period. Janus Henderson Group PLC boosted its stake in N-able by 1,041.3% in the 1st quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock valued at $2,866,000 after buying an additional 200,095 shares in the last quarter. Applied Fundamental Research LLC bought a new stake in N-able in the second quarter valued at $2,306,000. Finally, Edgestream Partners L.P. grew its position in N-able by 61.4% in the second quarter. Edgestream Partners L.P. now owns 295,145 shares of the company’s stock valued at $4,495,000 after acquiring an additional 112,236 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

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.