Acacia Research (NASDAQ:ACTG) Shares Pass Above 200-Day Moving Average – What’s Next?

Acacia Research Corporation (NASDAQ:ACTG)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.45 and traded as high as $4.51. Acacia Research shares last traded at $4.38, with a volume of 694,570 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ACTG shares. Wall Street Zen downgraded Acacia Research from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings cut Acacia Research from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Finally, Craig Hallum boosted their price target on shares of Acacia Research from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Acacia Research presently has an average rating of “Hold” and an average price target of $6.00.

Acacia Research Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 8.56 and a quick ratio of 8.09. The firm has a market capitalization of $423.06 million, a PE ratio of -24.33 and a beta of 0.43. The company’s fifty day simple moving average is $4.69 and its 200 day simple moving average is $4.45.

Acacia Research (NASDAQ:ACTG) last posted its earnings results on Thursday, May 7th. The business services provider reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. The firm had revenue of $54.24 million during the quarter, compared to the consensus estimate of $50.00 million. Acacia Research had a negative net margin of 8.53% and a negative return on equity of 2.81%. During the same quarter last year, the company earned $0.25 earnings per share.

Institutional Trading of Acacia Research

A number of hedge funds and other institutional investors have recently made changes to their positions in ACTG. Pekin Hardy Strauss Inc. purchased a new position in Acacia Research during the 4th quarter valued at about $37,000. Zions Bancorporation National Association UT purchased a new position in Acacia Research during the fourth quarter valued at approximately $38,000. AQR Capital Management LLC purchased a new position in Acacia Research during the first quarter valued at approximately $35,000. Occudo Quantitative Strategies LP bought a new stake in Acacia Research during the 4th quarter worth approximately $49,000. Finally, Abel Hall LLC bought a new stake in Acacia Research during the 4th quarter worth approximately $51,000. 86.69% of the stock is currently owned by institutional investors.

Acacia Research Company Profile

Acacia Research Corporation is a publicly traded patent licensing company based in New York City. The firm specializes in acquiring patented technologies through a network of wholly owned subsidiaries and seeking licensing agreements or settlements with companies that utilize those technologies. Since its founding in 1993, Acacia has built a business model centered on identifying innovative inventions and monetizing them through patent enforcement and strategic partnerships.

The company’s activities span a broad range of technology sectors, including life sciences, medical devices, software, telecommunications and consumer electronics.