Acacia Research Corp [NASDAQ: ACTG] slipped around -0.05 points on Thursday, while shares priced at $2.89 at the close of the session, down -1.70%.
Compared to the average trading volume of 258.60K shares, ACTG reached a trading volume of 180607 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Acacia Research Corp [ACTG]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ACTG shares is $6.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ACTG stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Craig Hallum have made an estimate for Acacia Research Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 22, 2020. While these analysts kept the previous recommendation, Barclays raised their target price from $4 to $6. The new note on the price target was released on July 29, 2016, representing the official price target for Acacia Research Corp stock. On December 23, 2015, analysts decreased their price target for ACTG shares from 12 to 6.50.
The Average True Range (ATR) for Acacia Research Corp is set at 0.18, with the Price to Sales ratio for ACTG stock in the period of the last 12 months amounting to 2.27. The Price to Book ratio for the last quarter was 0.42, with the Price to Cash per share for the same quarter was set at 3.15.
How has ACTG stock performed recently?
Acacia Research Corp [ACTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.76. With this latest performance, ACTG shares dropped by -16.95% in over the last four-week period, additionally sinking by -36.06% over the last 6 months – not to mention a drop of -41.38% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ACTG stock in for the last two-week period is set at 31.26, with the RSI for the last a single of trading hit 32.51, and the three-weeks RSI is set at 31.10 for Acacia Research Corp [ACTG]. The present Moving Average for the last 50 days of trading for this stock 3.70, while it was recorded at 2.95 for the last single week of trading, and 4.43 for the last 200 days.
Acacia Research Corp [ACTG]: Deeper insight into the fundamentals
Acacia Research Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.31 and a Current Ratio set at 8.89.
Insider trade positions for Acacia Research Corp [ACTG]
There are presently around $88.49%, or 89.58%% of ACTG stock, in the hands of institutional investors. The top three institutional holders of ACTG stocks are: STARBOARD VALUE LP with ownership of 61.12 million shares, which is approximately 61.0749%. STATE STREET CORP, holding 2.89 million shares of the stock with an approximate value of $$14.46 million in ACTG stocks shares; and STATE STREET CORP, currently with $$12.77 million in ACTG stock with ownership which is approximately 2.5464%.
