Abacus Life (NASDAQ:ABL) Sees Large Volume Increase

Shares of Abacus Life, Inc. (NASDAQ:ABL) saw unusually-high trading volume on Monday . Approximately 15,555 shares traded hands 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.

Analyst Upgrades and Downgrades

ABL has been the topic of a number of analyst reports. Piper Sandler initiated coverage on Abacus Life in a research note on Wednesday, June 26th. They set an “overweight” rating and a $12.00 price objective on the stock. B. Riley reiterated a “buy” rating and set a $15.00 price objective (down from $16.00) on shares of Abacus Life in a research note on Monday, June 24th. Finally, B. Riley Financial decreased their price objective on Abacus Life from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, June 24th.

Abacus Life Price Performance

The firm has a market capitalization of $562.50 million, a P/E ratio of 440.22 and a beta of 0.12. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.12 and a current ratio of 3.12. The business has a 50 day simple moving average of $10.83 and a two-hundred day simple moving average of $11.25.

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

Hedge Funds Weigh In On Abacus Life

Several institutional investors have recently modified their holdings of ABL. Barclays PLC bought a new position in shares of Abacus Life during the 3rd quarter valued at about $47,000. Inscription Capital LLC purchased a new stake in Abacus Life during the 1st quarter valued at about $137,000. Finally, Quarry LP purchased a new stake in Abacus Life during the 4th quarter valued at 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.