Acacia Research (NASDAQ:ACTG) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Acacia Research Corporation (NASDAQ:ACTG) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.89 and traded as high as $5.03. Acacia Research shares last traded at $5.02, with a volume of 139,699 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ACTG. Wall Street Zen cut shares of Acacia Research from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings upgraded shares of Acacia Research from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 13th. Finally, Craig Hallum upped their price objective 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. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. 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 Price Performance

The company has a quick ratio of 8.64, a current ratio of 9.18 and a debt-to-equity ratio of 0.10. The stock’s 50-day simple moving average is $4.45 and its two-hundred day simple moving average is $3.91. The company has a market capitalization of $482.35 million, a price-to-earnings ratio of 21.74 and a beta of 0.44.

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

Institutional Investors Weigh In On Acacia Research

A number of large investors have recently modified their holdings of ACTG. AQR Capital Management LLC purchased a new stake in shares of Acacia Research during the first quarter worth $35,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Acacia Research during the fourth quarter worth $37,000. Zions Bancorporation National Association UT purchased a new stake in shares of Acacia Research during the fourth quarter worth $38,000. Sather Financial Group Inc purchased a new stake in shares of Acacia Research during the third quarter worth $48,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Acacia Research during the fourth quarter worth $49,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

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.