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

Acacia Research Corporation (NASDAQ:ACTG)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.62 and traded as high as $4.20. Acacia Research shares last traded at $4.18, with a volume of 195,625 shares traded.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Acacia Research in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Acacia Research from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Acacia Research Stock Performance

The stock’s 50-day moving average is $3.90 and its 200-day moving average is $3.62. The company has a current ratio of 8.63, a quick ratio of 8.11 and a debt-to-equity ratio of 0.16. The stock has a market cap of $403.20 million, a price-to-earnings ratio of 83.62 and a beta of 0.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP grew its stake in shares of Acacia Research by 2.8% in the second quarter. First Trust Advisors LP now owns 114,872 shares of the business services provider’s stock valued at $411,000 after buying an additional 3,113 shares in the last quarter. Invesco Ltd. boosted its position in Acacia Research by 4.4% in the 4th quarter. Invesco Ltd. now owns 77,143 shares of the business services provider’s stock valued at $289,000 after buying an additional 3,252 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Acacia Research by 22.7% during the second quarter. The Manufacturers Life Insurance Company now owns 19,016 shares of the business services provider’s stock valued at $68,000 after acquiring an additional 3,517 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Acacia Research by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 846,307 shares of the business services provider’s stock worth $3,166,000 after acquiring an additional 3,525 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Acacia Research by 10.8% in the fourth quarter. Barclays PLC now owns 53,468 shares of the business services provider’s stock worth $200,000 after acquiring an additional 5,203 shares in the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.

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.