Abacus Life (NASDAQ:ABL) Shares Gap Up to $9.01

Abacus Life, Inc. (NASDAQ:ABL)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $9.01, but opened at $9.37. Abacus Life shares last traded at $9.95, with a volume of 6,827 shares traded.

Analyst Ratings Changes

Separately, B. Riley started coverage on shares of Abacus Life in a research report on Friday, May 31st. They issued a “buy” rating and a $16.00 price target on the stock.

Abacus Life Stock Performance

The stock has a 50-day moving average of $11.27 and a 200 day moving average of $11.13. The firm has a market capitalization of $556.74 million, a P/E ratio of 435.72 and a beta of 0.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.12 and a current ratio of 3.12.

Abacus Life (NASDAQ:ABL) last announced its earnings results on Monday, May 13th. The company reported $0.11 EPS for the quarter. Abacus Life had a return on equity of 4.96% and a net margin of 0.11%. The company had revenue of $21.49 million for the quarter. On average, research analysts anticipate that Abacus Life, Inc. will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Abacus Life

Large investors have recently modified their holdings of the stock. Barclays PLC acquired a new stake in shares of Abacus Life in the 3rd quarter valued at $47,000. Quarry LP acquired a new stake in Abacus Life in the fourth quarter worth about $463,000. Finally, Inscription Capital LLC acquired a new stake in Abacus Life in the first quarter worth about $137,000.

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.