Acacia Research (NASDAQ:ACTG) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Acacia Research Corporation (NASDAQ:ACTG)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.17 and traded as high as $4.65. Acacia Research shares last traded at $4.58, with a volume of 179,903 shares traded.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ACTG. Craig Hallum increased their price objective on Acacia Research from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Wall Street Zen cut Acacia Research from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Weiss Ratings lowered Acacia Research from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Acacia Research has a consensus rating of “Hold” and an average target price of $6.00.

Acacia Research Stock Performance

The stock’s 50-day simple moving average is $4.86 and its 200 day simple moving average is $4.17. The company has a market capitalization of $442.38 million, a PE ratio of -25.44 and a beta of 0.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 8.09 and a current ratio of 8.56.

Acacia Research (NASDAQ:ACTG) last released its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. The business had revenue of $54.24 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $0.25 EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Pekin Hardy Strauss Inc. acquired a new stake in shares of Acacia Research during the 4th quarter worth about $37,000. Zions Bancorporation National Association UT acquired a new position in Acacia Research in the fourth quarter valued at approximately $38,000. AQR Capital Management LLC purchased a new position in Acacia Research in the first quarter valued at approximately $35,000. Occudo Quantitative Strategies LP purchased a new position in Acacia Research in the fourth quarter valued at approximately $49,000. Finally, Abel Hall LLC acquired a new stake in Acacia Research during the fourth quarter worth approximately $51,000. 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.