Acacia Research (NASDAQ:ACTG) Price Target Raised to $6.00 at Craig Hallum

Acacia Research (NASDAQ:ACTG) had its target price raised by stock analysts at Craig Hallum from $5.00 to $6.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Craig Hallum’s target price would suggest a potential upside of 26.85% from the stock’s previous close.

A number of other research firms have also recently commented on ACTG. Wall Street Zen upgraded Acacia Research from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Acacia Research in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.00.

Acacia Research Price Performance

Acacia Research stock traded down $0.27 during mid-day trading on Thursday, hitting $4.73. 458,451 shares of the company were exchanged, compared to its average volume of 269,651. Acacia Research has a 12-month low of $2.70 and a 12-month high of $5.13. The company has a market capitalization of $456.26 million, a P/E ratio of 95.14 and a beta of 0.52. The business’s 50 day simple moving average is $3.99 and its two-hundred day simple moving average is $3.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.63 and a quick ratio of 8.11.

Institutional Trading of Acacia Research

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new position in Acacia Research in the first quarter valued at approximately $35,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Acacia Research in the fourth quarter worth $37,000. Zions Bancorporation National Association UT purchased a new position in shares of Acacia Research in the 4th quarter valued at $38,000. Sather Financial Group Inc purchased a new position in shares of Acacia Research in the 3rd quarter valued at $48,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Acacia Research during the 4th quarter valued at $49,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

About Acacia Research

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.