Acacia Research (NASDAQ:ACTG) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Acacia Research Corporation (NASDAQ:ACTG) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.55 and traded as high as $3.96. Acacia Research shares last traded at $3.93, with a volume of 67,109 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ACTG. Wall Street Zen raised shares of Acacia Research from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Acacia Research in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Acacia Research Stock Performance

The stock’s 50-day simple moving average is $3.77 and its 200 day simple moving average is $3.55. The company has a market capitalization of $379.09 million, a PE ratio of 78.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.11 and a current ratio of 8.63.

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

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 position in Acacia Research in the second quarter valued at approximately $29,000. AQR Capital Management LLC purchased a new position in shares of Acacia Research in the 1st quarter valued at $35,000. Sather Financial Group Inc acquired a new stake in Acacia Research during the 3rd quarter worth $48,000. Ethic Inc. purchased a new stake in Acacia Research in the third quarter valued at $64,000. Finally, Verition Fund Management LLC purchased a new stake in Acacia Research in the third quarter valued at $65,000. 86.69% of the stock is owned by institutional investors and hedge funds.

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.