Acacia Communications, Inc. (NASDAQ:ACIA) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 3,470,000 shares, a drop of 9.9% from the January 15th total of 3,850,000 shares. Currently, 9.1% of the shares of the company are short sold. Based on an average daily volume of 400,600 shares, the short-interest ratio is presently 8.7 days.
Several equities analysts have weighed in on ACIA shares. BidaskClub cut Acacia Communications from a “sell” rating to a “strong sell” rating in a report on Friday, February 7th. ValuEngine cut Acacia Communications from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Finally, Zacks Investment Research cut Acacia Communications from a “buy” rating to a “hold” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $60.09.
Shares of ACIA opened at $68.82 on Friday. Acacia Communications has a 52-week low of $43.92 and a 52-week high of $69.00. The business’s fifty day moving average is $68.48 and its 200-day moving average is $66.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.60 and a current ratio of 3.91. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 99.74, a PEG ratio of 1.45 and a beta of 1.70.
In related news, VP Francis J. Murphy sold 377 shares of Acacia Communications stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $66.81, for a total transaction of $25,187.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 810 shares of company stock valued at $54,483. 9.30% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. ARP Americas LP increased its stake in shares of Acacia Communications by 12.8% in the 4th quarter. ARP Americas LP now owns 1,189,276 shares of the technology company’s stock valued at $80,645,000 after purchasing an additional 134,731 shares during the last quarter. State Street Corp increased its stake in shares of Acacia Communications by 3.5% in the 4th quarter. State Street Corp now owns 792,764 shares of the technology company’s stock valued at $53,757,000 after purchasing an additional 26,500 shares during the last quarter. TIG Advisors LLC increased its stake in shares of Acacia Communications by 635.8% in the 4th quarter. TIG Advisors LLC now owns 531,899 shares of the technology company’s stock valued at $36,068,000 after purchasing an additional 459,608 shares during the last quarter. FMR LLC increased its stake in shares of Acacia Communications by 9.1% in the 1st quarter. FMR LLC now owns 513,183 shares of the technology company’s stock valued at $29,431,000 after purchasing an additional 42,623 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Acacia Communications by 18.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 508,376 shares of the technology company’s stock valued at $34,473,000 after purchasing an additional 80,808 shares during the last quarter. Institutional investors own 78.60% of the company’s stock.
Acacia Communications Company Profile
Acacia Communications, Inc develops, manufactures, and sells high-speed coherent optical interconnect products in the United States, China, Germany, Thailand, and internationally. The company offers embedded and pluggable module products consisting of optical interconnect modules with transmission speeds ranging from 100 to 1,200 gigabits per second for use in long-haul, metro, and inter-data center markets.
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