Acacia Research Corporation (NASDAQ:ACTG) went down by -1.03% during the previous trading session, and it is maintaining the win ahead of Thursday’s trading session. The share price of the Specialty Business Services giant went up by $3.85 to trade ended Thursday trading at $3.89. This is down from the $3.89 price recorded on Wednesday’s trading session. Thanks to this latest performance, ACTG is closer to the higher price 52-week target of $5.00 and further from the lowest price target of $5.00. Its performance from the start of the year has also been positive, with ACTG up by 44.74% year-to-date.
Acacia Research Corporation (ACTG) started the day trading at $3.89 and recorded an intraday high of $3.98. It also recorded an intraday low of $3.84 during Thursday’s trading session. Acacia Research Corporation is a very active stock that recorded a trading volume that is less than -52.1% of the average daily trading volume on Thursday. The stock’s trading volume on Thursday was 288649, which is less than -52.1 of the total average daily trading volume of 439.04K.
Acacia Research Corporation (NASDAQ:ACTG) 2020 Performance Impressive
The increase in ACTG’s stock price on Thursday saw its overall performance boost over the past few months. We can quantify the performance of the stock so far this year using a few metrics. The 52-week high price of ACTG currently stands at $4.34, which is higher than the current trading price of the stock by 11.29%. However, ACTG’s current trading price is -120.0% lower than the 52-week low price of $1.75. In terms of trading volume, Acacia Research Corporation currently experienced healthy participation during the last trading session. 288649 shares of Acacia Research Corporation were traded on the stock exchange on Thursday, which is less than -52.1% of the 439.04K average trading volume of the stock.
The performance of the stock has been positive over the past year. ACTG’s performance over the past one year has seen it surge by 38.49%, while the stock has gone up by 42.59% in the last six months. The quarterly performance of ACTG currently stands at 53.39%, and it is up by 3.22% in the last month. The only negative figure was from the weekly performance, which currently reads -4.94%. At the time of writing ACTG’s report, the company has a total market cap of $183.91M, making it one of the largest publicly-traded companies in the world.Acacia Research Corporation also has over 17 employees all over the world.
ACTG Insider Activities
For Acacia Research Corporation, insiders hold 64.40% of all company shares. The insider transactions over the past six months are up by 19.00%. During that period, insiders bought 410,500 shares in 6 transactions. In that same period, insiders sold 4,489 of their shares in 1 transactions. After these transactions, insiders at Acacia Research Corporation now hold 2.54M shares, which is over 64.68% of the total company stocks. Institutional investors currently hold a large chunk of the ACTG shares, as they control 5.21% of the company’s total stock.
ACTG Fundamental Analysis
For Acacia Research Corporation, the stock’s diluted earnings per share (EPS) stands at -0.51. In the coming year, analysts expect the EPS to be 0.01. The EPS growth will up over the next five years to 20.00% after surging by 23.90% in the previous five years. In terms of revenue, Acacia Research Corporation’s quarterly sales (YOY) is shrinking at -0.02, which is lower than the average annual revenue of 23.90% over the past half a decade.
The Return on Investment (ROI) on Acacia Research Corporation’s stock currently stands at -17.20%. The gross margin of the company is 65.60%.
ACTG Analysts Prediction
The Barclays has a Underweight rating for Acacia Research Corporation, predicting the stock price to stay between $4 and $6. Lake Street reiterate their Buy position on the stock ($12 and $6.50) and Barclays reiterate their Equal Weight position on the stock ($15 and $12).
Analysts at Cowen believe that ACTG is Outperform, and they have a price target of between $24 and $20. Standpoint Research and GARP Research also believe that Acacia Research Corporation’s stock is outperforming at the moment. ACTG received a positive rating from Northland Capital, which set a price target of $23-$17 for the stock.
ACTG Technical Analysis
The Simple Moving Average (SMA) is one of the most powerful technical indicators. The 20-day Simple Moving Average of ACTG currently stands at -3.07%, while the SMA50 is 21.68%. The biggest one is the SMA200, which is currently reading 41.10% ahead of Thursday’s trading session. The Relative Strength Index of this stock is 55.95.