Shares of N-able, Inc. (NYSE:NABL – Get Rating) saw strong trading volume on Thursday . 7,898 shares changed hands during mid-day trading, a decline of 97% from the previous session's volume of 252,967 shares.The stock last traded at $9.84 and had previously closed at $10.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Needham & Company LLC raised their price objective on shares of N-able from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Thursday, November 10th. Royal Bank of Canada lifted their price target on shares of N-able from $12.00 to $14.00 and gave the stock an "outperform" rating in a research report on Friday, November 11th.

N-able Trading Up 1.6 %

The business's 50-day moving average price is $10.84 and its two-hundred day moving average price is $10.16. The company has a market capitalization of $1.81 billion, a P/E ratio of 164.03 and a beta of 0.47. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.42 and a quick ratio of 2.42.

Institutional Investors Weigh In On N-able

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of N-able during the second quarter worth $28,000. Point72 Hong Kong Ltd raised its holdings in shares of N-able by 298.8% during the first quarter. Point72 Hong Kong Ltd now owns 3,462 shares of the company's stock worth $32,000 after acquiring an additional 2,594 shares during the period. Ensign Peak Advisors Inc acquired a new stake in N-able in the 1st quarter valued at $59,000. Tower Research Capital LLC TRC increased its stake in N-able by 94.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,734 shares of the company's stock valued at $62,000 after buying an additional 3,277 shares during the last quarter. Finally, Amalgamated Bank acquired a new stake in N-able in the 1st quarter valued at $63,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

About N-able

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N-able, Inc provides cloud-based software solutions for managed service providers (MSPs) 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. Its software platform is designed to be an enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.

Further Reading

• Get a free copy of the StockNews.com research report on N-able (NABL)
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