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

N-able, Inc. (NYSE:NABL) was the target of a significant 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. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily volume of 824,600 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Investors Weigh In On N-able

A number of hedge funds have recently bought and sold shares of the business. Occudo Quantitative Strategies LP raised its stake in N-able by 2.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 51,869 shares of the company’s stock valued at $484,000 after purchasing an additional 1,072 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in N-able by 67.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock valued at $30,000 after purchasing an additional 1,309 shares in the last quarter. Blue Trust Inc. raised its stake in 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 purchasing an additional 1,528 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in N-able by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,660 shares of the company’s stock valued at $380,000 after purchasing an additional 1,541 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in N-able by 0.8% during the fourth quarter. Rhumbline Advisers now owns 198,871 shares of the company’s stock valued at $1,857,000 after purchasing an additional 1,586 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

N-able Price Performance

Shares of NABL stock traded up $0.14 during mid-day trading on Tuesday, hitting $7.82. The company had a trading volume of 412,018 shares, compared to its average volume of 980,073. N-able has a 52-week low of $6.75 and a 52-week high of $15.48. The stock’s 50 day moving average price is $9.20 and its 200-day moving average price is $10.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The company has a market capitalization of $1.48 billion, a P/E ratio of 39.12 and a beta of 0.41.

N-able declared that its board has approved a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NABL shares. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of N-able in a research report on Friday. William Blair reiterated an “outperform” rating on shares of N-able in a research report on Friday. Royal Bank of Canada dropped 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 upped their price target on shares of N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $8.50 target price (down previously from $13.50) on shares of N-able in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.38.

N-able Company Profile

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.