ABL Stock Summary and Trading Ideas (Abacus Life - Class A | NASDAQ:ABL)

Abacus Life Inc is a vertically integrated alternative asset manager specializing in investing in life insurance products throughout the lifecycle of a life insurance policy.

Abacus Life - Class A trades on the NASDAQ stock market under the symbol ABL.

As of September 18, 2024, ABL stock price climbed to $10.40 with 179,730 million shares trading.

ABL has a beta of 0.43, meaning it tends to be less sensitive to market movements. ABL has a correlation of 0.01 to the broad based SPY ETF.

ABL has a market cap of $776.37 million. This is considered a Small Cap stock.

Last quarter Abacus Life - Class A reported $29 million in Revenue and $.18 earnings per share. This beat revenue expectation by $2 million and exceeded earnings estimates by $.05.

ABL has outperformed the market in the last year with a price return of +34.7% while the SPY ETF gained +27.8%. However, in the short term, ABL had mixed performance relative to the market. It has underperformed in the last 3 months, returning +1.9% vs +2.9% return in SPY. But in the last 2 weeks, ABL shares have fared better than the market returning +2.3% compared to SPY +1.7%.

ABL support price is $9.50 and resistance is $10.24 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ABL stock will trade within this expected range on the day.