Acacia Research (NASDAQ:ACTG) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Acacia Research Corporation (NASDAQ:ACTG) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.77 and traded as high as $4.97. Acacia Research shares last traded at $4.91, with a volume of 227,972 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ACTG shares. Craig Hallum upped their target price on shares of Acacia Research from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Wall Street Zen cut shares of Acacia Research from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings raised Acacia Research from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, March 13th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Acacia Research Stock Performance

The stock has a market capitalization of $486.21 million, a price-to-earnings ratio of 21.91 and a beta of 0.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 9.18 and a quick ratio of 8.64. The stock has a 50-day moving average of $4.24 and a 200 day moving average of $3.79.

Acacia Research (NASDAQ:ACTG) last released its earnings results on Wednesday, March 11th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.17. The company had revenue of $50.13 million for the quarter, compared to the consensus estimate of $38.00 million. Acacia Research had a net margin of 7.60% and a return on equity of 4.11%.

Hedge Funds Weigh In On Acacia Research

Several large investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in Acacia Research during the 1st quarter worth $35,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Acacia Research in the 4th quarter valued at $37,000. Zions Bancorporation National Association UT acquired a new position in shares of Acacia Research in the 4th quarter valued at $38,000. Sather Financial Group Inc bought a new position in shares of Acacia Research in the 3rd quarter worth $48,000. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Acacia Research in the 4th quarter worth $49,000. 86.69% of the stock is currently 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.