Abacus Life, Inc. (NASDAQ:ABL) Short Interest Up 5.8% in May

Abacus Life, Inc. (NASDAQ:ABLGet Free Report) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 322,900 shares, an increase of 5.8% from the April 30th total of 305,200 shares. Based on an average trading volume of 27,300 shares, the short-interest ratio is currently 11.8 days. Currently, 17.6% of the company’s stock are short sold.

Abacus Life Price Performance

Shares of NASDAQ:ABL opened at $11.41 on Friday. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $729.38 million, a PE ratio of 570.50 and a beta of 0.19. Abacus Life has a 1-year low of $5.47 and a 1-year high of $13.25. The business’s 50 day moving average is $11.76 and its 200-day moving average is $10.79.

Abacus Life (NASDAQ:ABLGet Free Report) last posted its earnings results on Thursday, March 21st. The company reported ($0.10) EPS for the quarter. The company had revenue of $23.65 million for the quarter. Abacus Life had a return on equity of 4.96% and a net margin of 0.11%.

Wall Street Analysts Forecast Growth

Separately, B. Riley initiated coverage on Abacus Life in a report on Friday. They issued a “buy” rating and a $16.00 target price on the stock.

Read Our Latest Stock Report on ABL

Hedge Funds Weigh In On Abacus Life

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC acquired a new position in Abacus Life in the third quarter worth $47,000. Inscription Capital LLC acquired a new position in shares of Abacus Life during the first quarter valued at $137,000. Finally, Quarry LP acquired a new position in shares of Abacus Life during the fourth quarter valued at $463,000.

Abacus Life Company Profile

(Get Free Report)

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.

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