Acacia Research Corporation (ACTG) saw a big move last session, as the company’s shares fell by over 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This stock, trading at a volatile range of $14.48–$17.29 in the past one-month time frame, showed a sharp decline yesterday at $15.86.
This business services provider company has seen a flat track record when it comes to current year estimate revisions over the past few weeks, and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
Acacia Research currently has a Zacks Rank #5 (Sell) while its Earnings ESP is 64.7%.
Some better-ranked stocks in the same sector include ExamWorks Group, Inc. (EXAM), CopyTele, Inc. (COPY) and Odyssey Marine Exploration Inc. (OMEX). Odyssey Marine Exploration carries a Zacks Rank #1 (Strong Buy) while ExamWorks Group and CopyTele carry a Zacks Rank #2 (Buy).
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