N-able, Inc. (NYSE:NABL – Get Free Report) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,390,000 shares, an increase of 32.4% from the February 13th total of 1,050,000 shares. Based on an average trading volume of 824,600 shares, the short-interest ratio is currently 1.7 days. Approximately 2.1% of the company’s stock are sold short.
N-able Stock Performance
Shares of NABL traded up $0.14 during mid-day trading on Tuesday, hitting $7.82. 412,018 shares of the company traded hands, compared to its average volume of 980,073. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The stock has a 50-day moving average price of $9.20 and a two-hundred day moving average price of $10.67. N-able has a 1 year low of $6.75 and a 1 year high of $15.48. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 39.12 and a beta of 0.41.
N-able declared that its board has authorized a stock repurchase plan on Wednesday, March 12th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Royal Bank of Canada lowered their price target on shares of N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Scotiabank lifted their price target on shares of N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a research report on Friday. William Blair reissued an “outperform” rating on shares of N-able in a research report on Friday. BMO Capital Markets reissued a “market perform” rating and set a $8.50 price target (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of N-able in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, N-able has an average rating of “Moderate Buy” and a consensus price target of $9.38.
Get Our Latest Stock Analysis on NABL
About N-able
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.
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