Abacus Life (NASDAQ:ABL) Shares Gap Down to $8.94

Abacus Life, Inc. (NASDAQ:ABL) shares gapped down prior to trading on Friday . The stock had previously closed at $8.94, but opened at $8.69. Abacus Life shares last traded at $8.69, with a volume of 106 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABL. Piper Sandler began coverage on Abacus Life in a report on Wednesday, June 26th. They set an “overweight” rating and a $12.00 target price for the company. B. Riley reissued a “buy” rating and issued a $15.00 target price (down previously from $16.00) on shares of Abacus Life in a research report on Monday, June 24th. Finally, B. Riley Financial reduced their price target on Abacus Life from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, June 24th.

Abacus Life Price Performance

The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.12 and a current ratio of 3.12. The company has a fifty day moving average price of $10.71 and a two-hundred day moving average price of $11.22. The company has a market cap of $536.93 million, a P/E ratio of 447.22 and a beta of 0.12.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings data on Monday, May 13th. The company reported $0.11 EPS for the quarter. The company had revenue of $21.49 million during the quarter. Abacus Life had a return on equity of 4.96% and a net margin of 0.11%. On average, sell-side analysts anticipate that Abacus Life, Inc. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abacus Life

A hedge fund recently bought a new stake in Abacus Life stock. Quarry LP bought a new position in shares of Abacus Life, Inc. (NASDAQ:ABL) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 47,944 shares of the company’s stock, valued at approximately $463,000. Quarry LP owned 0.08% of Abacus Life as of its most recent filing with the SEC.

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.