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Acacia Research Corporation (ACTG) – The 36.88% Upside Potential Remains

Acacia Research Corporation (NASDAQ: ACTG) is -1.56% lower on its value in year-to-date trading and has touched a low of $3.30 and a high of $7.54 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ACTG stock was last observed hovering at around $5.04 in the last trading session, with the day’s gains setting it 0.01% off its average median price target of $8.00 for the next 12 months. It is also 36.88% off the consensus price target high of $8.00 offered by 1 analysts, but current levels are 36.88% higher than the price target low of $8.00 for the same period.

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Currently trading at $5.05, the stock is 3.34% and 6.95% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.2 million and changing 0.20% at the moment leaves the stock 7.49% off its SMA200. ACTG registered -10.46% loss for a year compared to 6-month gain of 21.39%. The firm has a 50-day simple moving average (SMA 50) of -$1.77 and a 200-day simple moving average (SMA200) of -$0.62.

The stock witnessed a 0.20% loss in the last 1 month and extending the period to 3 months gives it a 7.68%, and is 7.22% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.49% over the week and 4.64% over the month.

Acacia Research Corporation (ACTG) has around 287 employees, a market worth around $218.51M and $95.80M in sales. Current P/E ratio is 5.73. Distance from 52-week low is 53.03% and -33.02% from its 52-week high. The company has generated returns on investments over the last 12 months (-1.60%).

Acacia Research Corporation (ACTG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Acacia Research Corporation (ACTG) is a “Buy”. 1 analysts offering their recommendations for the stock, where 0 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Acacia Research Corporation is expected to release its quarterly report on 11/14/2022.The EPS is expected to grow by 26.40% this year.

Acacia Research Corporation (ACTG) Top Institutional Holders

The shares outstanding are 46.54M, and float is at 43.90M with Short Float at 2.43%.

Acacia Research Corporation (ACTG) Insider Activity

A total of 17 insider transactions have happened at Acacia Research Corporation (ACTG) in the last six months, with sales accounting for 8 and purchases happening 9 times. The most recent transaction is an insider sale by Booth Marc W.,the company’sChief IP Officer. SEC filings show that Booth Marc W. sold 6,283 shares of the company’s common stock on Dec 20 at a price of $4.71 per share for a total of $29600.0. Following the sale, the insider now owns 0.22 million shares.

Acacia Research Corporation disclosed in a document filed with the SEC on Dec 17 that Soncini Jason W. (General Counsel) bought a total of 11,000 shares of the company’s common stock. The trade occurred on Dec 17 and was made at $5.05 per share for $55585.0. Following the transaction, the insider now directly holds 78500.0 shares of the ACTG stock.

Still, SEC filings show that on Dec 17, Rosenstein Richard Jay (Chief Financial Officer) acquired 25,000 shares at an average price of $5.10 for $0.13 million. The insider now directly holds 146,900 shares of Acacia Research Corporation (ACTG).

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