Acacia Research Corporation (NASDAQ:ACTG) has a beta value of 0.54 and has seen 0.35 million shares traded in the last trading session. The company, currently valued at $316.98M, closed the last trade at $6.59 per share which meant it gained $0.2 on the day or 3.13% during that session. The ACTG stock price is -37.94% off its 52-week high price of $9.09 and 53.57% above the 52-week low of $3.06. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.61 million shares traded. The 3-month trading volume is 329.94K shares.
Acacia Research Corporation (NASDAQ:ACTG) trade information
Sporting 3.13% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Friday, 09/03/21 when the ACTG stock price touched $6.59 or saw a rise of 2.23%. Year-to-date, Acacia Research Corporation shares have moved 67.26%, while the 5-day performance has seen it change 15.21%. Over the past 30 days, the shares of Acacia Research Corporation (NASDAQ:ACTG) have changed 13.43%. Short interest in the company has seen 2.51 million shares shorted with days to cover at 4.9.
Wall Street analysts have a consensus price target for the stock at $8.00, which means that the shares’ value could jump 17.62% from current levels. The projected low price target is $8.00 while the price target rests at a high of $8.00. In that case, then, we find that the current price level is -21.4% off the targeted high while a plunge would see the stock gain -21.4% from current levels.
Acacia Research Corporation (ACTG) estimates and forecasts
The company’s shares have gained 3.13% over the past 6 months. Revenue growth from the last financial year stood is estimated to be 3.10%.
1 analysts offering their estimates for the company have set an average revenue estimate of $3.75 million for the current quarter. 1 have an estimated revenue figure of $3.75 million for the next quarter concluding in Sep 2021. Year-ago sales stood $2.12 million and $19.47 million respectively for this quarter and the next, and analysts expect sales will grow by 77.10% for the current quarter and -80.70% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 20.00% over the past 5 years. Earnings growth for 2021 is a modest 549.20% while over the next 5 years, the company’s earnings are expected to increase by 20.00%.
Acacia Research Corporation is expected to release its next earnings report between November 08 and November 12 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Acacia Research Corporation (NASDAQ:ACTG)’s Major holders
Insiders own 3.80% of the company shares, while shares held by institutions stand at 68.14% with a share float percentage of 70.83%. Investors are also buoyed by the number of investors in a company, with Acacia Research Corporation having a total of 147 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 3.04 million shares worth more than $20.2 million. As of Mar 30, 2021, Blackrock Inc. held 6.12% of shares outstanding.
The other major institutional holder is Invesco Ltd., with the holding of over 2.59 million shares as of Mar 30, 2021. The firm’s total holdings are worth over $17.24 million and represent 5.22% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Invesco Global Opportunities Fund and Fidelity Strategic Advisors Small-Mid Cap Fund. As of Jan 30, 2021, the former fund manager holds about 5.03% shares in the company for having 2.5 million shares of worth $14.0 million while later fund manager owns 1.92 million shares of worth $12.78 million as of Mar 30, 2021, which makes it owner of about 3.87% of company’s outstanding stock.