Acacia Research Corp (NASDAQ:ACTG) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 178,600 shares, a drop of 13.3% from the September 30th total of 205,900 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 98,100 shares, the days-to-cover ratio is currently 1.8 days.
Separately, ValuEngine cut shares of Acacia Research from a “hold” rating to a “sell” rating in a research report on Thursday.
Shares of Acacia Research stock opened at $2.95 on Friday. The stock has a market capitalization of $139.37 million, a P/E ratio of 12.09 and a beta of 0.60. The company has a 50-day simple moving average of $2.64 and a 200 day simple moving average of $2.85. Acacia Research has a 12-month low of $2.42 and a 12-month high of $3.34.
About Acacia Research
Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engage in the licensing and enforcement of patented technologies. It assists patent owners with the prosecution and development of their patent portfolios; protection of their patented inventions from unauthorized use; generation of licensing revenue from users of their patented technologies; and enforcement against unauthorized users of their patented technologies through the filing of patent infringement litigation.
Receive News & Ratings for Acacia Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Research and related companies with MarketBeat.com's FREE daily email newsletter.