Abacus Life (NASDAQ:ABL) Shares Gap Up to $8.80

Abacus Life, Inc. (NASDAQ:ABL) gapped up prior to trading on Wednesday . The stock had previously closed at $8.80, but opened at $9.20. Abacus Life shares last traded at $8.66, with a volume of 6,455 shares changing hands.

Analyst Upgrades and Downgrades

ABL has been the subject of a number of research analyst reports. B. Riley Financial cut their price target on shares of Abacus Life from $16.00 to $15.00 and set a “buy” rating for the company in a report on Monday, June 24th. B. Riley restated 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, Piper Sandler assumed coverage on Abacus Life in a report on Wednesday, June 26th. They set an “overweight” rating and a $12.00 price objective on the stock.

Abacus Life Trading Down 1.6 %

The company has a fifty day simple moving average of $10.83 and a 200-day simple moving average of $11.25. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 1.03. The stock has a market cap of $553.55 million, a price-to-earnings ratio of 440.22 and a beta of 0.12.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Monday, May 13th. The company reported $0.11 earnings per share (EPS) for the quarter. The firm 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%. On average, research analysts forecast that Abacus Life, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abacus Life

Several large investors have recently made changes to their positions in the company. Quarry LP bought a new stake in Abacus Life during the fourth quarter worth approximately $463,000. Inscription Capital LLC bought a new stake in Abacus Life during the first quarter worth approximately $137,000. Finally, Barclays PLC bought a new stake in Abacus Life during the third quarter worth approximately $47,000.

Abacus Life Company Profile

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.