Short Interest in Acacia Communications, Inc. (NASDAQ:ACIA) Expands By 8.3%

Acacia Communications, Inc. (NASDAQ:ACIA) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 2,312,700 shares, an increase of 8.3% from the June 30th total of 2,135,600 shares. Currently, 6.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is presently 1.9 days.

Shares of Acacia Communications stock opened at $64.48 on Friday. The firm has a market capitalization of $2.65 billion, a PE ratio of 429.87, a price-to-earnings-growth ratio of 3.53 and a beta of 1.74. The company has a current ratio of 4.18, a quick ratio of 3.82 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $60.99 and its 200 day moving average is $54.20. Acacia Communications has a 1 year low of $32.98 and a 1 year high of $67.49.

Acacia Communications (NASDAQ:ACIA) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $111.18 million for the quarter, compared to analyst estimates of $108.68 million. Acacia Communications had a net margin of 5.30% and a return on equity of 7.30%. As a group, research analysts anticipate that Acacia Communications will post 0.9 earnings per share for the current year.

Several equities analysts have commented on ACIA shares. Piper Jaffray Companies lowered shares of Acacia Communications from an “overweight” rating to a “neutral” rating and raised their target price for the company from $68.00 to $70.00 in a report on Tuesday, July 9th. Rosenblatt Securities reissued a “neutral” rating on shares of Acacia Communications in a report on Tuesday, July 16th. Bank of America raised shares of Acacia Communications from an “underperform” rating to a “neutral” rating and set a $56.60 target price on the stock in a report on Monday, May 6th. Northland Securities reissued a “buy” rating and issued a $65.00 target price on shares of Acacia Communications in a report on Monday, July 1st. Finally, UBS Group lowered shares of Acacia Communications from a “buy” rating to a “neutral” rating and raised their target price for the company from $64.00 to $70.00 in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.07.

In other Acacia Communications news, VP Francis J. Murphy sold 559 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $64.90, for a total value of $36,279.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Christian J. Rasmussen sold 12,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $46.77, for a total transaction of $561,240.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,661 shares of company stock worth $3,675,197. Insiders own 9.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC bought a new stake in shares of Acacia Communications during the 1st quarter valued at approximately $126,000. Deutsche Bank AG boosted its position in Acacia Communications by 387.9% during the 4th quarter. Deutsche Bank AG now owns 278,378 shares of the technology company’s stock worth $10,577,000 after buying an additional 221,327 shares during the period. Strs Ohio boosted its position in Acacia Communications by 21.0% during the 1st quarter. Strs Ohio now owns 82,400 shares of the technology company’s stock worth $4,725,000 after buying an additional 14,300 shares during the period. Quantamental Technologies LLC acquired a new stake in Acacia Communications during the 1st quarter worth approximately $375,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in Acacia Communications during the 1st quarter worth approximately $39,000. 74.03% of the stock is currently owned by institutional investors.

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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