Tenable (NASDAQ:TENB) Hits New 1-Year Low – Here’s Why

Tenable Holdings, Inc. (NASDAQ:TENB)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $19.58 and last traded at $20.05, with a volume of 2594250 shares changing hands. The stock had previously closed at $22.02.

Analysts Set New Price Targets

TENB has been the subject of several analyst reports. Truist Financial set a $27.00 target price on shares of Tenable in a research note on Tuesday, January 20th. Wall Street Zen raised shares of Tenable from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 25th. Morgan Stanley set a $30.00 price objective on shares of Tenable in a research note on Thursday, December 18th. Canaccord Genuity Group decreased their target price on shares of Tenable from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, Barclays cut their price target on Tenable from $33.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, January 5th. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.41.

Tenable Stock Performance

The stock’s fifty day simple moving average is $24.06 and its two-hundred day simple moving average is $27.70. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -74.26 and a beta of 0.63. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.94 and a current ratio of 0.94.

Insiders Place Their Bets

In other Tenable news, Director A Brooke Seawell sold 115,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $24.82, for a total transaction of $2,854,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Trading of Tenable

A number of institutional investors have recently modified their holdings of the company. Quarry LP purchased a new position in Tenable in the third quarter valued at approximately $25,000. Signaturefd LLC increased its position in shares of Tenable by 312.9% in the fourth quarter. Signaturefd LLC now owns 1,251 shares of the company’s stock worth $29,000 after acquiring an additional 948 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Tenable in the second quarter worth $37,000. Exchange Traded Concepts LLC purchased a new position in shares of Tenable in the 3rd quarter valued at $45,000. Finally, Horizon Investments LLC acquired a new position in shares of Tenable during the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Tenable Company Profile

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.