Short Interest in N-able, Inc. (NYSE:NABL) Increases By 21.0%

N-able, Inc. (NYSE:NABL) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totaling 3,280,692 shares, a growth of 21.0% from the March 15th total of 2,710,990 shares. Based on an average daily volume of 1,345,873 shares, the short-interest ratio is currently 2.4 days. Approximately 1.8% of the shares of the stock are sold short.

N-able Stock Up 2.5%

Shares of NYSE:NABL opened at $5.10 on Friday. The stock’s 50-day moving average price is $4.86 and its 200-day moving average price is $6.50. N-able has a 12-month low of $4.14 and a 12-month high of $9.04. The stock has a market capitalization of $959.80 million, a P/E ratio of -56.61 and a beta of 0.58. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.48.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). N-able had a negative net margin of 3.33% and a positive return on equity of 3.17%. The company had revenue of $130.27 million for the quarter, compared to the consensus estimate of $127.07 million. During the same period last year, the business posted $0.10 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities analysts anticipate that N-able will post 0.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NABL. Defiance ETFs LLC bought a new stake in shares of N-able in the fourth quarter worth about $8,954,000. Ameriprise Financial Inc. grew its stake in shares of N-able by 516.8% in the second quarter. Ameriprise Financial Inc. now owns 1,274,744 shares of the company’s stock worth $10,325,000 after purchasing an additional 1,068,061 shares during the last quarter. Bank of America Corp DE grew its stake in shares of N-able by 271.8% in the second quarter. Bank of America Corp DE now owns 679,119 shares of the company’s stock worth $5,501,000 after purchasing an additional 496,461 shares during the last quarter. Topline Capital Management LLC bought a new stake in shares of N-able in the third quarter worth about $3,545,000. Finally, Marshall Wace LLP grew its stake in shares of N-able by 435.1% in the second quarter. Marshall Wace LLP now owns 521,675 shares of the company’s stock worth $4,226,000 after purchasing an additional 424,190 shares during the last quarter. 96.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Zacks Research downgraded N-able from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Weiss Ratings restated a “sell (d)” rating on shares of N-able in a research report on Thursday, January 22nd. Wall Street Zen downgraded N-able from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. William Blair restated an “underperform” rating on shares of N-able in a research report on Monday, March 23rd. Finally, BMO Capital Markets lowered their price target on N-able from $9.50 to $5.50 and set a “market perform” rating on the stock in a research report on Friday, February 20th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.75.

About N-able

N-able (NYSE:NABL) is a cloud-based software provider specializing in solutions for managed service providers (MSPs). The company’s platform offers remote monitoring and management (RMM), backup and disaster recovery, endpoint detection and response (EDR), security information and event management (SIEM), and automation tools. By integrating these services into a unified interface, N-able enables MSPs to streamline IT operations, enhance security posture, and deliver proactive maintenance across on-premises, cloud, and hybrid environments.

Headquartered in Toronto, Canada, N-able traces its origins to the managed services division of SolarWinds before completing a spin-off and initial public offering in mid-2021.