ACM Research (NASDAQ:ACMR) Shares Down 4.9% – Here’s What Happened

ACM Research, Inc. (NASDAQ:ACMR)’s share price dropped 4.9% during trading on Thursday . The stock traded as low as $18.46 and last traded at $18.50. Approximately 880,630 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 1,465,984 shares. The stock had previously closed at $19.46.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACMR. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of ACM Research in a report on Tuesday, October 1st. Roth Mkm dropped their price objective on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $38.00 target price on shares of ACM Research in a research note on Wednesday, August 7th.

ACM Research Stock Down 2.4 %

The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 14.39 and a beta of 1.52. The company has a quick ratio of 1.26, a current ratio of 2.29 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average price of $18.73 and a 200-day moving average price of $22.09.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.25. ACM Research had a return on equity of 9.16% and a net margin of 12.26%. The firm had revenue of $202.50 million for the quarter, compared to analyst estimates of $163.05 million. During the same period last year, the company earned $0.45 EPS. The firm’s quarterly revenue was up 40.0% on a year-over-year basis. As a group, sell-side analysts forecast that ACM Research, Inc. will post 0.92 EPS for the current year.

Insider Buying and Selling

In related news, Director Xiao Xing sold 8,304 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total value of $167,657.76. Following the transaction, the director now directly owns 3,430,206 shares of the company’s stock, valued at approximately $69,255,859.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Xiao Xing sold 8,304 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $20.19, for a total value of $167,657.76. Following the transaction, the director now owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Science & Technology Shanghai sold 26,300 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $20.01, for a total transaction of $526,263.00. Following the sale, the insider now owns 3,403,906 shares of the company’s stock, valued at approximately $68,112,159.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,116,516 shares of company stock valued at $24,573,590. Insiders own 31.24% of the company’s stock.

Institutional Trading of ACM Research

Several large investors have recently bought and sold shares of ACMR. Los Angeles Capital Management LLC acquired a new stake in ACM Research in the first quarter valued at approximately $852,000. Westend Capital Management LLC acquired a new stake in ACM Research in the first quarter valued at approximately $4,802,000. Counterpoint Mutual Funds LLC acquired a new stake in ACM Research in the first quarter valued at approximately $279,000. Denali Advisors LLC acquired a new stake in ACM Research in the first quarter valued at approximately $329,000. Finally, Trust Co. of Oklahoma acquired a new stake in ACM Research in the first quarter valued at approximately $687,000. 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.