ACM Research (NASDAQ:ACMR) Shares Down 4.4% After Insider Selling

ACM Research, Inc. (NASDAQ:ACMR) shares were down 4.4% on Thursday following insider selling activity. The stock 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 firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the completion of the transaction, the director now directly owns 100,002 shares in the company, valued at $3,000,060. This trade represents a 62.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Haiping Dun sold 9,518 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $29.00, for a total value of $276,022.00. Following the transaction, the director now owns 755,090 shares of the company’s stock, valued at $21,897,610. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

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

ACM Research Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37. The firm has a market cap of $1.60 billion, a P/E ratio of 20.83 and a beta of 1.61. The business’s 50-day simple moving average is $22.95 and its 200 day simple moving average is $19.49.

Institutional Investors Weigh In On ACM Research

Large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its position in ACM Research by 35.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 70,655 shares of the specialty retailer’s stock worth $1,067,000 after purchasing an additional 18,617 shares during the period. Algert Global LLC grew its position in ACM Research by 530.5% in the 3rd quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock worth $3,611,000 after purchasing an additional 149,670 shares during the period. SG Americas Securities LLC bought a new stake in ACM Research in the 4th quarter worth approximately $5,782,000. Barclays PLC grew its position in ACM Research by 63.3% in the 3rd quarter. Barclays PLC now owns 137,584 shares of the specialty retailer’s stock worth $2,793,000 after purchasing an additional 53,319 shares during the period. Finally, XTX Topco Ltd bought a new stake in ACM Research in the 3rd quarter worth approximately $700,000. 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.