The trading price of Acacia Research Corporation (NASDAQ:ACTG) closed higher on Friday, Feb 19, closing at $7.99, 6.38% higher than its previous close.

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Traders who pay close attention to intraday price movement should know that it fluctuated between $8.02 and $8.77. The company’s P/E ratio in the trailing 12-month period was 37.44, while its 5Y monthly beta was 0.79. In examining the 52-week price action we see that the stock hit a 52-week high of $8.5 and a 52-week low of $1.75. Over the past month, the stock has gained 49.38% in value.

On the technical side, indicators suggest ACTG has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned ACTG a recommendation rating is 1. Out of them, no one rate it a Hold, while 1 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged Acacia Research Corporation (ACTG) as Underperform, while not any of them advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 1.87, which symbolizes a positive outlook. A quick review shows that ACTG’s price is currently 24.27% off the SMA20 and 62.66% off the SMA50. The RSI metric on the 14-day chart is currently showing 78.07, and weekly volatility stands at 8.12%. When measured over the past 30 days, the indicator reaches 9.75%. Acacia Research Corporation (NASDAQ:ACTG)’s beta value is currently sitting at 0.79, while the Average True Range indicator is currently displaying 0.65. With analysts defining $7-$7 as the low and high price targets, we arrive at a consensus price target of $7 for the trailing 12-month period. The current price is about -17.65% off the estimated low and -17.65% off the forecast high, based on this estimate. Investors will be thrilled if ACTG’s share price rises to $7, which is the median consensus price. At that level, ACTG’s share price would be -17.65% above current price.

To see how Acacia Research Corporation stock has been performing in comparison to its peers in the industry, here are the numbers: ACTG stock’s performance was +6.38% in the latest trading, and +245.53% in the past year, while Sps Commerce Inc (SPSC) has traded +1.28% on the day and positioned +91.14% higher than it was a year ago. Another comparable company Wns Ltd (WNS) saw its stock close -0.7% lower in the most recent trading session but was up +1.05% in a year. Furthermore, Avis Budget Group (CAR) showed an increase of 6.38% on the day while its price kept rising at 245.53% over the past year. Acacia Research Corporation has a P/E ratio of 37.44, compared to Sps Commerce Inc’s 87.84 and Wns Ltd’s 37.38. Also in last trading session, the S&P 500 Index has soared -0.19%, while the Dow Jones Industrial also saw a negative seesion, down 0% on the day.

An evaluation of the daily trading volume of Acacia Research Corporation (NASDAQ:ACTG) indicates that the 3-month average is 996.83 Million. However, this figure has declined over the past 10 days to an average of 1.55 Million.

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Currently, records show that 49.28 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 6.02% of outstanding shares, whereas institutions hold 67.41%. The stats also highlight that short interest as of January 28, 2021, stood at 1.2 Million shares, resulting in a short ratio of 1.12 at that time. From this, we can conclude that short interest is 2.43% of the company’s total outstanding shares. It is noteworthy that short shares in January were down slightly from the previous month’s figure, which was 940.7 Million. However, since the stock’s price has seen +115.74% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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