ACM Research (NASDAQ:ACMR) Stock Price Down 7.5% – Here’s Why

Shares of ACM Research, Inc. (NASDAQ:ACMR) were down 7.5% during trading on Friday . The company traded as low as $24.80 and last traded at $24.91. 374,601 shares changed hands during trading, a decline of 73% from the average daily volume of 1,379,059 shares. The stock had previously closed at $26.92.

Analyst Upgrades and Downgrades

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

ACM Research Price Performance

The firm has a market capitalization of $1.43 billion, a P/E ratio of 18.64 and a beta of 1.61. The firm’s 50 day simple moving average is $24.15 and its two-hundred day simple moving average is $19.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34.

Insider Transactions at ACM Research

In other news, 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 value of $276,022.00. Following the sale, the director now directly owns 755,090 shares of the company’s stock, valued at $21,897,610. The trade was a 1.24 % decrease in their position. 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 the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.00, for a total value of $4,899,240.00. Following the completion of the sale, the director now directly owns 100,002 shares in the company, valued at approximately $3,000,060. This represents a 62.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 289,174 shares of company stock worth $8,213,329. 31.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ACM Research

Hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in shares of ACM Research by 35.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 70,655 shares of the specialty retailer’s stock valued at $1,067,000 after acquiring an additional 18,617 shares during the period. SG Americas Securities LLC bought a new position in shares of ACM Research in the fourth quarter worth about $5,782,000. Barclays PLC grew its holdings in ACM Research by 63.3% during the 3rd quarter. Barclays PLC now owns 137,584 shares of the specialty retailer’s stock valued at $2,793,000 after buying an additional 53,319 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of ACM Research during the third quarter valued at approximately $700,000. Finally, Intech Investment Management LLC lifted its holdings in shares of ACM Research by 70.0% in the fourth quarter. Intech Investment Management LLC now owns 21,273 shares of the specialty retailer’s stock worth $321,000 after buying an additional 8,760 shares in the last quarter. 66.75% of the stock is owned by institutional investors.

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.