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In a challenging market environment, Acacia Research Corporation (NASDAQ:ACTG) stock has touched a 52-week low, with shares falling to $2.75. According to InvestingPro data, technical indicators suggest the stock is in oversold territory, while management has been actively buying back shares - potentially signaling their confidence in the company's prospects. The intellectual property licensing company has faced significant headwinds over the past year, reflected in a substantial 1-year change with a decline of 44.72%. With revenue of $122.31M and a gross margin of 24.24%, investors have shown concern as the company navigates through a complex landscape of legal and financial intricacies associated with patent litigation and licensing. The drop to this year's low underscores the volatility and uncertainty that have come to define the sector in which Acacia operates, prompting a cautious stance among shareholders and potential investors. Despite current challenges, InvestingPro's Fair Value analysis suggests the stock may be undervalued at current levels. Discover 12 additional key insights about ACTG with an InvestingPro subscription, including detailed financial health metrics and growth prospects.
In other recent news, Acacia Research Corporation reported its fourth-quarter financial results, which met earnings expectations but still disappointed investors. The company announced adjusted earnings per share of -$0.07, aligning with analyst estimates, and revenue of $48.8 million, slightly surpassing the anticipated $47.8 million. Despite this, Acacia recorded a GAAP net loss of $13.4 million or -$0.14 per share for the quarter. For the full year 2024, the company reported total revenue of $122.3 million and a GAAP net loss of $36.1 million or -$0.36 per share. Adjusted net income for the year was $14.2 million or $0.14 per share. Notably, Acacia's Energy Operations segment generated $17.3 million in revenue during the fourth quarter, while its Manufacturing Operations, bolstered by the Deflecto acquisition, contributed $23.2 million. CEO Martin McNulty Jr. described 2024 as a transformational year, emphasizing the company's strategy of acquiring and building scalable businesses. Despite these developments, the market reacted negatively, reflecting disappointment in Acacia's financial performance and future outlook.
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