Acacia Research Corp (NASDAQ:ACTG) saw a significant growth in short interest in June. As of June 30th, there was short interest totalling 278,800 shares, a growth of 38.4% from the May 30th total of 201,400 shares. Based on an average daily trading volume, of 129,200 shares, the short-interest ratio is presently 2.2 days. Currently, 0.6% of the company’s stock are sold short.
Separately, ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st.
NASDAQ ACTG opened at $2.82 on Friday. The business has a fifty day moving average price of $3.01. Acacia Research has a 12-month low of $2.70 and a 12-month high of $4.05.
Acacia Research (NASDAQ:ACTG) last released its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter. Acacia Research had a negative return on equity of 5.79% and a negative net margin of 106.28%. The firm had revenue of $3.39 million during the quarter.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACTG. Marshall Wace LLP bought a new stake in shares of Acacia Research in the 1st quarter valued at about $168,000. Callodine Capital Management LP lifted its stake in shares of Acacia Research by 9.5% in the 1st quarter. Callodine Capital Management LP now owns 115,000 shares of the business services provider’s stock valued at $375,000 after acquiring an additional 10,000 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in shares of Acacia Research by 14.9% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 1,069,386 shares of the business services provider’s stock valued at $3,486,000 after acquiring an additional 138,613 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Acacia Research in the 1st quarter valued at about $65,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Acacia Research by 279.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,107 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 7,446 shares during the last quarter. 60.09% of the stock is currently owned by institutional investors and hedge funds.
Acacia Research Company Profile
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.
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