Acacia Research (NASDAQ:ACTG) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of 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 $3.54 and traded as high as $3.88. Acacia Research shares last traded at $3.78, with a volume of 131,222 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Acacia Research from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Acacia Research in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Acacia Research has an average rating of “Sell”.

Acacia Research Stock Performance

The business has a 50-day simple moving average of $3.60 and a 200 day simple moving average of $3.54. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.63 and a quick ratio of 8.11. The firm has a market cap of $357.87 million, a PE ratio of 74.21 and a beta of 0.49.

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

Institutional Investors Weigh In On Acacia Research

Hedge funds have recently made changes to their positions in the company. Clayton Partners LLC purchased a new position in Acacia Research in the first quarter worth about $453,000. Corsair Capital Management L.P. bought a new stake in shares of Acacia Research in the 2nd quarter valued at approximately $280,000. Peapod Lane Capital LLC boosted its holdings in shares of Acacia Research by 65.0% in the 2nd quarter. Peapod Lane Capital LLC now owns 718,192 shares of the business services provider’s stock worth $2,571,000 after purchasing an additional 282,913 shares during the period. Krilogy Financial LLC increased its position in shares of Acacia Research by 20.8% during the 2nd quarter. Krilogy Financial LLC now owns 1,398,559 shares of the business services provider’s stock valued at $5,007,000 after purchasing an additional 240,535 shares during the last quarter. Finally, Capital Advisors Ltd. LLC bought a new position in shares of Acacia Research during the 2nd quarter valued at approximately $29,000. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

About Acacia Research

Acacia is a publicly traded (Nasdaq: ACTG) company that is focused on acquiring and operating businesses across the industrial, energy and technology sectors where it believes it can leverage its expertise, significant capital base, and deep industry relationships to drive value. Acacia evaluates opportunities based on the attractiveness of the underlying cash flows, without regard to a specific investment horizon.