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

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

Analyst Ratings Changes

ACMR has been the topic of a number of recent analyst reports. Craig Hallum lowered shares of ACM Research from a “buy” rating to a “hold” rating and cut their price target for the stock from $30.00 to $18.00 in a report on Thursday, December 5th. Needham & Company LLC lowered shares of ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

ACM Research Price Performance

The business’s 50 day moving average price is $17.77 and its two-hundred day moving average price is $18.19. The stock has a market cap of $1.56 billion, a P/E ratio of 20.51 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.

Insider Activity

In other ACM Research news, insider David H. Wang sold 56,250 shares of ACM Research stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $17.89, for a total value of $1,006,312.50. Following the completion of the transaction, the insider now directly owns 654,256 shares of the company’s stock, valued at approximately $11,704,639.84. The trade was a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Haiping Dun sold 15,000 shares of ACM Research stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $19.12, for a total transaction of $286,800.00. Following the completion of the transaction, the director now directly owns 774,148 shares of the company’s stock, valued at $14,801,709.76. This trade represents a 1.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 150,098 shares of company stock valued at $2,886,117. Corporate insiders own 31.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in shares of ACM Research by 0.8% during the fourth quarter. Rhumbline Advisers now owns 73,739 shares of the specialty retailer’s stock valued at $1,113,000 after purchasing an additional 589 shares during the last quarter. Beacon Financial Advisory LLC increased its holdings in ACM Research by 7.1% during the fourth quarter. Beacon Financial Advisory LLC now owns 14,495 shares of the specialty retailer’s stock valued at $219,000 after buying an additional 960 shares during the last quarter. Arizona State Retirement System increased its holdings in ACM Research by 7.3% during the fourth quarter. Arizona State Retirement System now owns 14,964 shares of the specialty retailer’s stock valued at $226,000 after buying an additional 1,017 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in ACM Research by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,996 shares of the specialty retailer’s stock valued at $438,000 after buying an additional 1,061 shares during the last quarter. Finally, Picton Mahoney Asset Management increased its holdings in ACM Research by 66.2% during the fourth quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer’s stock valued at $47,000 after buying an additional 1,236 shares during the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.

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.