Acacia Research Corp.-Acacia Technologies Reaches New 12-Month Low at $19.60 (ACTG)
Shares of Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) hit a new 52-week low on Friday, AnalystRatingsNetwork reports. The company traded as low as $19.60 and last traded at $20.34, with a volume of 261,121 shares trading hands. The stock had previously closed at $20.06.
A number of research firms have recently commented on ACTG. Analysts at Zacks upgraded shares of Acacia Research Corp.-Acacia Technologies from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, September 18th. They now have a $23.50 price target on the stock. Separately, analysts at Standpoint Research initiated coverage on shares of Acacia Research Corp.-Acacia Technologies in a research note to investors on Tuesday, September 17th. They set a “buy” rating and a $33.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $28.38.
Acacia Research Corp.-Acacia Technologies has a 52-week low of $19.60 and a 52-week high of $32.59. The stock has a 50-day moving average of $22.1 and a 200-day moving average of $23.95. The company’s market cap is $1.020 billion.
Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) last released its earnings data on Thursday, July 18th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by $0.34. The company had revenue of $23.11 million for the quarter, compared to the consensus estimate of $66.98 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was down 54.3% on a year-over-year basis. Analysts expect that Acacia Research Corp.-Acacia Technologies will post $1.53 EPS for the current fiscal year.
Acacia Research Corporation, through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
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