N-able (NYSE:NABL) Sees Large Volume Increase – What’s Next?

N-able, Inc. (NYSE:NABL) saw an uptick in trading volume on Wednesday . 3,260,511 shares changed hands during mid-day trading, an increase of 399% from the previous session’s volume of 653,761 shares.The stock last traded at $7.33 and had previously closed at $7.19.

Analysts Set New Price Targets

Several brokerages recently weighed in on NABL. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of N-able in a report on Friday, March 14th. William Blair reissued an “outperform” rating on shares of N-able in a research note on Friday, March 14th. Royal Bank of Canada cut their target price on shares of N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Scotiabank upped their price target on shares of N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a report on Friday, March 14th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $8.50 price target (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, N-able presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

N-able Trading Up 3.5 %

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 market capitalization of $1.41 billion, a P/E ratio of 37.23 and a beta of 0.41. The stock has a 50-day moving average price of $8.80 and a two-hundred day moving average price of $10.27.

N-able announced that its board has authorized a stock repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in shares of N-able by 95.5% during the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after buying an additional 1,528 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of N-able during the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC raised its position in shares of N-able by 67.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock worth $30,000 after acquiring an additional 1,309 shares in the last quarter. KBC Group NV lifted its stake in shares of N-able by 104.7% in the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after purchasing an additional 2,808 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of N-able during the fourth quarter valued at approximately $83,000. 96.35% of the stock is currently owned by institutional investors.

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.