Abacus Life (NASDAQ:ABL) Stock Price Up 5.5%

Abacus Life, Inc. (NASDAQ:ABL) shares rose 5.5% during mid-day trading on Wednesday . The company traded as high as $9.20 and last traded at $9.13. Approximately 124,304 shares were traded during trading, an increase of 168% from the average daily volume of 46,303 shares. The stock had previously closed at $8.65.

Analyst Upgrades and Downgrades

ABL has been the subject of a number of research reports. Piper Sandler initiated coverage on shares of Abacus Life in a research report on Wednesday. They set an “overweight” rating and a $12.00 target price for the company. B. Riley Financial cut their target price on shares of Abacus Life from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Monday. Finally, 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 research report on Monday.

Abacus Life Trading Up 5.2 %

The firm has a market capitalization of $581.67 million, a PE ratio of 445.72 and a beta of 0.17. 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’s fifty day moving average price is $11.13 and its 200 day moving average price is $11.21.

Abacus Life (NASDAQ:ABL) last issued its quarterly earnings results on Monday, May 13th. The company reported $0.11 EPS for the quarter. The business had revenue of $21.49 million during the quarter. Abacus Life had a net margin of 0.11% and a return on equity of 4.96%. As a group, analysts expect that Abacus Life, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Abacus Life

A number of institutional investors have recently bought and sold shares of the stock. Inscription Capital LLC purchased a new stake in Abacus Life in the first quarter valued at approximately $137,000. Quarry LP purchased a new stake in Abacus Life in the fourth quarter valued at approximately $463,000. Finally, Barclays PLC purchased a new stake in Abacus Life in the third quarter valued at approximately $47,000.

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.