ACM Research (NASDAQ:ACMR) Stock Price Down 4.4% Following Insider Selling

ACM Research, Inc. (NASDAQ:ACMR)’s share price dropped 4.4% during trading on Thursday after an insider sold shares in the company. The company traded as low as $28.04 and last traded at $27.94. Approximately 489,553 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,660,472 shares. The stock had previously closed at $29.22.

Specifically, Director Chenming Hu sold 163,308 shares of the business’s 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 completion of the sale, the director now directly owns 100,002 shares in the company, valued at $3,000,060. The trade was a 62.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Haiping Dun sold 9,518 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $29.00, for a total transaction of $276,022.00. Following the sale, the director now owns 755,090 shares of the company’s stock, valued at approximately $21,897,610. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

ACMR has been the subject of several research reports. JPMorgan Chase & Co. initiated coverage on shares of ACM Research in a research note on Friday, February 28th. They set an “overweight” rating and a $36.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of ACM Research in a research report on Thursday, February 27th. Finally, Craig Hallum raised shares of ACM Research from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, ACM Research currently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

ACM Research Stock Down 4.5 %

The firm’s 50-day moving average price is $22.71 and its 200 day moving average price is $19.43. The firm has a market cap of $1.62 billion, a P/E ratio of 21.20 and a beta of 1.61. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On ACM Research

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in shares of ACM Research by 506.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,018 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 1,685 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ACM Research during the fourth quarter worth about $33,000. Erste Asset Management GmbH bought a new position in shares of ACM Research during the third quarter worth about $37,000. Picton Mahoney Asset Management grew 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 valued at $47,000 after buying an additional 1,236 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in ACM Research in the 3rd quarter valued at about $72,000. Institutional investors 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.