Acacia Research Co. (NASDAQ:ACTG) Short Interest Update

Acacia Research Co. (NASDAQ:ACTG) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 743,600 shares, a growth of 18.8% from the March 31st total of 625,900 shares. Based on an average daily trading volume, of 236,600 shares, the short-interest ratio is presently 3.1 days.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Craig Hallum boosted their price target on Acacia Research from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. StockNews.com raised Acacia Research from a “sell” rating to a “hold” rating in a research report on Monday, March 18th.

Acacia Research Price Performance

NASDAQ ACTG opened at $4.87 on Friday. Acacia Research has a twelve month low of $3.43 and a twelve month high of $5.47. The company has a debt-to-equity ratio of 0.02, a quick ratio of 19.67 and a current ratio of 20.07. The stock has a market capitalization of $487.10 million, a PE ratio of 16.79 and a beta of 0.46. The stock has a 50-day simple moving average of $4.68 and a 200 day simple moving average of $4.12.

Acacia Research (NASDAQ:ACTG) last posted its quarterly earnings data on Thursday, March 14th. The business services provider reported $0.67 earnings per share for the quarter. Acacia Research had a return on equity of 11.47% and a net margin of 48.92%. The business had revenue of $92.31 million during the quarter.

Hedge Funds Weigh In On Acacia Research

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. bought a new position in Acacia Research during the third quarter valued at about $39,000. Jump Financial LLC bought a new position in Acacia Research during the third quarter valued at about $41,000. Corsair Capital Management L.P. bought a new position in Acacia Research during the fourth quarter valued at about $59,000. SG Americas Securities LLC bought a new position in Acacia Research during the third quarter valued at about $60,000. Finally, Counterpoint Mutual Funds LLC bought a new position in Acacia Research during the first quarter valued at about $136,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

About Acacia Research

Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through three segments, Intellectual Property Operations, Industrial Operations, and Energy Operations.