N-able, Inc. (NYSE:NABL) Short Interest Update

N-able, Inc. (NYSE:NABL - Get Free Report) saw a significant decline in short interest in May. As of May 15th, there was short interest totalling 3,660,000 shares, a decline of 18.8% from the April 30th total of 4,510,000 shares. Based on an average daily volume of 1,310,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 5.5% of the shares of the stock are sold short.

Institutional Trading of N-able

Several hedge funds have recently added to or reduced their stakes in NABL. Blue Trust Inc. raised its holdings in N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock valued at $29,000 after acquiring an additional 1,528 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of N-able in the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC grew 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 valued at $30,000 after buying an additional 1,309 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of N-able by 241.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,162 shares of the company's stock valued at $30,000 after buying an additional 2,943 shares during the last quarter. Finally, 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. 96.35% of the stock is owned by institutional investors and hedge funds.

N-able Stock Up 0.1%

NYSE NABL traded up $0.01 during trading hours on Wednesday, hitting $8.01. 1,024,260 shares of the company traded hands, compared to its average volume of 777,877. N-able has a twelve month low of $6.07 and a twelve month high of $15.49. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 40.05 and a beta of 0.57. The business's 50-day moving average is $7.23 and its 200-day moving average is $8.62. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01.

N-able (NYSE:NABL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The company had revenue of $118.20 million during the quarter, compared to analysts' expectations of $115.65 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. The business's revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $0.11 earnings per share. Sell-side analysts anticipate that N-able will post 0.27 earnings per share for the current year.

N-able announced that its board has authorized a stock buyback program on Wednesday, March 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to purchase up to 5.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on NABL. BMO Capital Markets reissued a "market perform" rating and issued a $8.50 price objective (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. William Blair reiterated an "outperform" rating on shares of N-able in a report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price objective on shares of N-able in a report on Monday, May 5th. Royal Bank of Canada lowered their price target on N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Finally, Scotiabank upped their price objective on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, N-able currently has a consensus rating of "Moderate Buy" and an average price target of $9.38.

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.