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

Key Points

• Technical move: Acacia's share price crossed above its 200‑day moving average ($4.03) during trading, reaching as high as $5.01 and last trading around $4.83 on volume of ~346,072 shares.
• Fundamentals beat: The company beat quarterly expectations with EPS of $0.03 (vs. -$0.14) and revenue of $50.13M (vs. $38M), and shows strong liquidity (quick ratio 8.64, current ratio 9.18) with low leverage (debt/equity 0.10).
• Mixed analyst view: Brokerages are divided—one Buy and one Hold—yet the consensus is a Moderate Buy with an average price target of $6.00 (Craig Hallum raised its target to $6.00 and rated the stock Buy).

Acacia Research Corporation (NASDAQ:ACTG - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.03 and traded as high as $5.01. Acacia Research shares last traded at $4.83, with a volume of 346,072 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ACTG. Weiss Ratings raised Acacia Research from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, March 13th. Wall Street Zen downgraded Acacia Research from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Finally, Craig Hallum increased their price objective on Acacia Research from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, March 12th. One 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 company currently has an average rating of "Moderate Buy" and an average target price of $6.00.

Acacia Research Trading Down 2.8%

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 has a market capitalization of $465.95 million, a PE ratio of 21.00 and a beta of 0.44. The firm has a 50 day moving average price of $4.65 and a 200 day moving average price of $4.03.

Acacia Research (NASDAQ:ACTG - Get Free Report) last issued its quarterly earnings results on Wednesday, March 11th. The business services provider reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.17. The company had revenue of $50.13 million during the quarter, compared to the consensus estimate of $38.00 million. Acacia Research had a return on equity of 4.11% and a net margin of 7.60%.

Institutional Trading of Acacia Research

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC purchased a new stake in shares of Acacia Research during the first quarter valued at approximately $35,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Acacia Research during the fourth quarter valued at approximately $37,000. Zions Bancorporation National Association UT purchased a new stake in shares of Acacia Research during the fourth quarter valued at approximately $38,000. Sather Financial Group Inc purchased a new stake in shares of Acacia Research during the third quarter valued at approximately $48,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Acacia Research during the fourth quarter valued at approximately $49,000. 86.69% of the stock is owned by hedge funds and other institutional investors.

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.

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