Abacus Life (NASDAQ:ABL) Stock Price Down 4.1%
Abacus Life (NASDAQ:ABL) shares fell 4.1% on Friday, closing at $0.21. Trading volume was down 74%, with 13,886 shares exchanged. Despite this decline, several analysts maintain a 'buy' rating; TD Cowen set a price target of $1.00, while B. Riley adjusted its target to $0.80. The company's market cap is $44.48 million, with a P/E ratio of 509.50. Abacus Life reported earnings of $0.18 per share for the last quarter, surpassing estimates.
Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) shares traded down 4.1% on Friday . The company traded as low as $10.04 and last traded at $10.21. 13,886 shares traded hands during trading, a decline of 74% from the average session volume of 54,309 shares. The stock had previously closed at $10.65.
Wall Street Analyst Weigh In
A number of analysts have commented on ABL shares. TD Cowen initiated coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They issued a "buy" rating and a $14.00 price target for the company. B. Riley reiterated a "buy" rating and issued a $15.00 target price (down from $16.00) on shares of Abacus Life in a research note on Monday, June 24th. B. Riley Financial lowered their price target on Abacus Life from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, June 24th. Finally, Piper Sandler initiated coverage on Abacus Life in a research note on Wednesday, June 26th. They issued an "overweight" rating and a $12.00 price objective on the stock. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Abacus Life has a consensus rating of "Buy" and a consensus target price of $14.00.
Read Our Latest Stock Analysis on ABL
Abacus Life Stock Down 4.6 %
The company has a market cap of $649.48 million, a P/E ratio of 509.50 and a beta of 0.12. The firm's 50 day moving average price is $9.51 and its two-hundred day moving average price is $11.05. 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 - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.05. The firm had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.57 million. Abacus Life had a net margin of 0.11% and a return on equity of 4.96%. During the same quarter in the prior year, the business earned $0.13 earnings per share. Equities research analysts anticipate that Abacus Life, Inc. will post 0.5 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of ABL. Renaissance Technologies LLC acquired a new position in Abacus Life during the 2nd quarter valued at about $106,000. Levin Capital Strategies L.P. bought a new stake in Abacus Life during the second quarter worth $130,000. Inscription Capital LLC purchased a new stake in Abacus Life in the 1st quarter valued at $137,000. Richard W. Paul & Associates LLC lifted its stake in Abacus Life by 4.8% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company's stock valued at $263,000 after acquiring an additional 1,401 shares in the last quarter. Finally, Quarry LP purchased a new position in Abacus Life during the 2nd quarter worth $318,000.
Abacus Life Company Profile
(Get Free Report)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.
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