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

Acacia Research Corporation (NASDAQ:ACTG)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.55 and traded as high as $3.84. Acacia Research shares last traded at $3.81, with a volume of 120,519 shares changing hands.

Analysts Set New Price Targets

A number of research firms have commented on ACTG. Weiss Ratings restated a “sell (d)” rating on shares of Acacia Research in a research note on Wednesday, October 8th. Wall Street Zen upgraded Acacia Research from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Acacia Research currently has a consensus rating of “Sell”.

Acacia Research Price Performance

The firm has a market capitalization of $367.51 million, a price-to-earnings ratio of 76.22 and a beta of 0.48. The stock’s fifty day moving average price is $3.72 and its two-hundred day moving average price is $3.55. The company has a current ratio of 8.63, a quick ratio of 8.11 and a debt-to-equity ratio of 0.16.

Acacia Research (NASDAQ:ACTG) last posted its earnings results on Wednesday, November 5th. The business services provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.13. Acacia Research had a return on equity of 2.45% and a net margin of 1.70%.The firm had revenue of $59.45 million for the quarter, compared to analyst estimates of $38.00 million.

Hedge Funds Weigh In On Acacia Research

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC purchased a new stake in shares of Acacia Research during the 2nd quarter worth approximately $29,000. AQR Capital Management LLC acquired a new stake in Acacia Research during the 1st quarter worth $35,000. Sather Financial Group Inc purchased a new stake in Acacia Research in the third quarter valued at $48,000. Ethic Inc. purchased a new position in shares of Acacia Research during the third quarter worth about $64,000. Finally, Verition Fund Management LLC purchased a new position in shares of Acacia Research during the third quarter worth about $65,000. 86.69% of the stock is owned by institutional investors and hedge funds.

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.