ACM Research (NASDAQ:ACMR) Trading Up 8.7% – Here’s What Happened

ACM Research, Inc. (NASDAQ:ACMR) traded up 8.7% during trading on Wednesday . The stock traded as high as $25.93 and last traded at $26.18. 335,751 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,345,320 shares. The stock had previously closed at $24.08.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Needham & Company LLC cut shares of ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Wednesday, December 4th. Craig Hallum downgraded shares of ACM Research from a “buy” rating to a “hold” rating and reduced their price target for the company from $30.00 to $18.00 in a research report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

ACM Research Stock Down 2.8 %

The business’s fifty day moving average price is $18.38 and its 200 day moving average price is $18.37. The company has a market capitalization of $1.50 billion, a P/E ratio of 19.73 and a beta of 1.58. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10.

Insiders Place Their Bets

In other news, insider Sotheara Cheav sold 22,598 shares of ACM Research stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $23.00, for a total transaction of $519,754.00. Following the completion of the sale, the insider now owns 100,002 shares in the company, valued at $2,300,046. The trade was a 18.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David H. Wang sold 56,250 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $17.89, for a total transaction of $1,006,312.50. Following the transaction, the insider now owns 654,256 shares of the company’s stock, valued at approximately $11,704,639.84. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 31.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of ACM Research by 506.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,018 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 1,685 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in ACM Research during the fourth quarter worth $33,000. Erste Asset Management GmbH acquired a new position in shares of ACM Research in the third quarter valued at $37,000. Picton Mahoney Asset Management increased its holdings in shares of ACM Research by 66.2% in the fourth quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer’s stock valued at $47,000 after purchasing an additional 1,236 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of ACM Research in the third quarter valued at $72,000. Institutional investors and hedge funds own 66.75% of the company’s stock.

About ACM Research

ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.