Abacus Life (NASDAQ:ABL) Sees Large Volume Increase

Abacus Life, Inc. (NASDAQ:ABL) saw unusually-strong trading volume on Monday . Approximately 15,555 shares were traded during trading, a decline of 68% from the previous session’s volume of 47,928 shares.The stock last traded at $8.87 and had previously closed at $8.65.

Analysts Set New Price Targets

A number of analysts have weighed in on ABL shares. B. Riley restated a “buy” rating and set a $15.00 target price (down previously from $16.00) on shares of Abacus Life in a report on Monday, June 24th. Piper Sandler assumed coverage on Abacus Life in a research report on Wednesday, June 26th. They set an “overweight” rating and a $12.00 price target on the stock. Finally, B. Riley Financial reduced 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.

Abacus Life Stock Performance

The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $10.83 and a 200-day moving average price of $11.25. The firm has a market capitalization of $562.50 million, a price-to-earnings ratio of 440.22 and a beta of 0.12.

Abacus Life (NASDAQ:ABL) last released its earnings results on Monday, May 13th. The company reported $0.11 earnings per share (EPS) for the quarter. Abacus Life had a return on equity of 4.96% and a net margin of 0.11%. The firm had revenue of $21.49 million for the quarter. As a group, sell-side analysts forecast that Abacus Life, Inc. will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On Abacus Life

Several hedge funds have recently made changes to their positions in ABL. Barclays PLC acquired a new position in shares of Abacus Life in the 3rd quarter valued at $47,000. Inscription Capital LLC acquired a new position in shares of Abacus Life in the 1st quarter valued at $137,000. Finally, Quarry LP acquired a new stake in Abacus Life during the 4th quarter worth about $463,000.

Abacus Life Company Profile

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.