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

N-able, Inc. (NYSE:NABL) hit a new 52-week low on Thursday . The company traded as low as $10.96 and last traded at $10.96, with a volume of 4127 shares changing hands. The stock had previously closed at $11.02.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. BMO Capital Markets dropped their target price 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 issued a $16.50 price objective on shares of N-able in a research note on Monday.

N-able Stock Down 1.3 %

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 50-day simple moving average of $12.46 and a two-hundred day simple moving average of $13.17. The stock has a market cap of $2.02 billion, a P/E ratio of 55.10 and a beta of 0.47.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $116.40 million for the quarter, compared to analyst estimates of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. On average, equities analysts forecast that N-able, Inc. will post 0.27 EPS for the current year.

Insider Transactions at N-able

In other N-able news, EVP Peter C. Anastos sold 16,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the transaction, the executive vice president now directly owns 322,774 shares in the company, valued at approximately $4,208,972.96. This represents a 0.00 % 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. Corporate insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On N-able

A number of institutional investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of N-able during the second quarter valued at $30,000. GAMMA Investing LLC raised its holdings in shares of N-able by 644.2% during the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock valued at $56,000 after purchasing an additional 3,163 shares during the last quarter. SageView Advisory Group LLC bought a new position in N-able during the first quarter valued at approximately $148,000. Entropy Technologies LP bought a new stake in N-able in the 3rd quarter worth approximately $149,000. Finally, Summit Global Investments bought a new stake in N-able in the 2nd quarter worth approximately $191,000. Institutional investors own 96.35% of the company’s stock.

N-able Company Profile

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.