In a report released today, Ryan Koontz from Rosenblatt Securities downgraded Acacia Communications (ACIA) to Hold, with a price target of $115.00. The company’s shares closed last Thursday at $114.63.
According to TipRanks.com, Koontz is a 5-star analyst with an average return of 33.2% and a 78.7% success rate. Koontz covers the Technology sector, focusing on stocks such as Zoom Video Communications, Applied Optoelectronics, and CommScope Holding.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Acacia Communications with a $105.00 average price target, representing a -7.5% downside. In a report issued on January 12, Needham also assigned a Hold rating to the stock.
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The company has a one-year high of $86.98 and a one-year low of $60.62. Currently, Acacia Communications has an average volume of 1.11M.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACIA in relation to earlier this year.
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Acacia Communications, Inc. is engaged in the development, manufacture, and sale of high-speed coherent optical interconnect products that are designed to transform communications networks through improvements in performance, capacity, and cost. The company was founded by Mehrdad Givehchi, Benny P. Mikkelsen, and Christian J. Rasmussen in June 2009 and is headquartered in Maynard, MA.
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