Abacus Life (NASDAQ:ABL) Shares Gap Up to $8.40

Shares of Abacus Life, Inc. (NASDAQ:ABL) gapped up prior to trading on Wednesday . The stock had previously closed at $8.40, but opened at $8.64. Abacus Life shares last traded at $8.49, with a volume of 1,504 shares trading hands.

Analyst Ratings Changes

Several brokerages recently commented on ABL. Piper Sandler assumed coverage on Abacus Life in a research note on Wednesday, June 26th. They set an “overweight” rating and a $12.00 price objective on the stock. B. Riley reaffirmed a “buy” rating and set a $15.00 price target (down previously from $16.00) on shares of Abacus Life in a research report on Monday, June 24th. Finally, B. Riley Financial decreased their price objective 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’s fifty day moving average is $10.51 and its 200 day moving average is $11.27. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 1.03. The firm has a market cap of $540.12 million, a price-to-earnings ratio of 420.21 and a beta of 0.12.

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

Institutional Investors Weigh In On Abacus Life

An institutional investor recently bought a new position in Abacus Life stock. Inscription Capital LLC purchased a new stake in shares of Abacus Life, Inc. (NASDAQ:ABL) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,500 shares of the company’s stock, valued at approximately $137,000.

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.