Abacus Life (NASDAQ:ABL) Sees Unusually-High Trading Volume - Time to Buy?

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 441,988 shares traded hands during trading, an increase of 190% from the previous session's volume of 152,300 shares.The stock last traded at $6.86 and had previously closed at $6.64.

Analysts Set New Price Targets

A number of equities analysts recently commented on ABL shares. Piper Sandler dropped their price objective on Abacus Life from $13.00 to $11.50 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. B. Riley dropped their price objective on Abacus Life from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $14.00.

Abacus Life Stock Performance

The stock has a market capitalization of $783.54 million, a P/E ratio of -44.94 and a beta of 0.16. The company's fifty day simple moving average is $7.50 and its two-hundred day simple moving average is $8.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The firm had revenue of $33.21 million for the quarter, compared to the consensus estimate of $28.76 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. As a group, equities analysts forecast that Abacus Life, Inc. will post 0.62 EPS for the current year.

Institutional Trading of Abacus Life

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. acquired a new position in shares of Abacus Life during the fourth quarter valued at about $110,000. Squarepoint Ops LLC purchased a new position in shares of Abacus Life in the 4th quarter worth about $113,000. JPMorgan Chase & Co. increased its holdings in shares of Abacus Life by 640.9% in the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company's stock worth $131,000 after buying an additional 14,420 shares during the period. LPL Financial LLC boosted its holdings in shares of Abacus Life by 31.0% during the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company's stock worth $182,000 after purchasing an additional 5,507 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Abacus Life during the fourth quarter valued at about $193,000.

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.