NEW YORK (TheStreet) -- Acacia Research (ACTG) fell 6.31% on the session Friday to $13.96, down 94 cents from its previous close of $14.90, after the company, which purchases patents and licenses, reported fourth-quarter earnings that came up short of analysts' expectations.
The company reported a loss of 22 cents a share, which was 37 cents off of the income of 15 cents a share expected by analysts polled by Thomson Reuters. Acacia also reported revenue of $15.07 million, which was well short of the consensus estimate of $25.29 million.
The stock had a volume of 4,597,081, nearly seven times its average of 668,923. It hit a high of $14.51 and a low of $13.25 for the day. The stock holds a one-year high of $32.59 and a one-year low of $12.23.
TheStreet Ratings team rates ACACIA RESEARCH CORP as a "sell" with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ACACIA RESEARCH CORP (ACTG) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."