ACM Research (NASDAQ:ACMR) Stock Price Up 4.1% – Here’s What Happened

ACM Research, Inc. (NASDAQ:ACMR) shares traded up 4.1% on Tuesday . The stock traded as high as $28.69 and last traded at $28.88. 115,749 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,383,345 shares. The stock had previously closed at $27.74.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ACMR shares. Craig Hallum upgraded shares of ACM Research from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. initiated coverage on shares of ACM Research in a research note on Friday, February 28th. They issued an “overweight” rating and a $36.00 price objective for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of ACM Research in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, ACM Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

ACM Research Stock Performance

The company’s fifty day simple moving average is $23.42 and its 200 day simple moving average is $19.67. The stock has a market capitalization of $1.67 billion, a P/E ratio of 21.75 and a beta of 1.61. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10.

Insider Activity at ACM Research

In related news, insider Sotheara Cheav sold 22,598 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $23.00, for a total value of $519,754.00. Following the sale, the insider now directly owns 100,002 shares of the company’s stock, valued at $2,300,046. This trade represents a 18.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Chenming Hu sold 163,308 shares of ACM Research stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the sale, the director now owns 100,002 shares of the company’s stock, valued at approximately $3,000,060. The trade was a 62.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 289,174 shares of company stock valued at $8,213,329. Company insiders own 31.24% of the company’s stock.

Institutional Trading of ACM Research

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in 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 acquiring an additional 1,685 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ACM Research during the 4th quarter valued at about $33,000. Erste Asset Management GmbH bought a new stake in ACM Research in the 3rd quarter worth approximately $37,000. Picton Mahoney Asset Management lifted its position in ACM Research by 66.2% in the 4th quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer’s stock worth $47,000 after buying an additional 1,236 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in ACM Research in the third quarter worth approximately $72,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.

ACM Research Company Profile

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.