Acacia Throttled Despite Q4 Beat

Acacia Communications, Inc. ACIA shares are trading lower by $8.00 (12 percent) at $55.43 in Friday's session.

After the close on Thursday, the company reported a Q4 EPS beat of $0.04 with nearly a $3 million beat for revenues. The designer, manufacturer and marketer of a variety of mobile communications and media devices, peaked last September at $128.73.

That was part of an incredible rally that began from its May 2016 IPO, when it bottomed at $27.05.

The sharp decline off its October high finally found a bottom on February 1 at $54.25. The rebound off that low peaked on February 21 at $69.57. The issue retreated from that level as it ended Thursday's session at $63.43.

After a lower open, Acacia's stock immediately bottomed at $52.66 and has rebounded above its recent low for the move (54.25) and so far the rally has been capped at $55.89.