ACM Research (NASDAQ:ACMR) Shares Gap Down Following Insider Selling

Shares of ACM Research, Inc. (NASDAQ:ACMR) gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $17.19, but opened at $16.75. ACM Research shares last traded at $15.61, with a volume of 1,215,659 shares trading hands.

Specifically, insider David H. Wang sold 56,250 shares of the company’s 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 transaction, the insider now owns 654,256 shares in the company, valued at $11,704,639.84. The trade was a 7.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David H. Wang sold 56,250 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $19.08, for a total transaction of $1,073,250.00. Following the completion of the transaction, the insider now owns 710,506 shares in the company, valued at approximately $13,556,454.48. The trade was a 7.34 % decrease in their position. The disclosure for this sale can be found here. In related news, Director Haiping Dun sold 15,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $19.12, for a total value of $286,800.00. Following the transaction, the director now owns 774,148 shares in the company, valued at $14,801,709.76. The trade was a 1.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ACMR. Roth Mkm dropped their price target on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of ACM Research in a research note on Tuesday, October 1st. Finally, Benchmark restated a “buy” rating and set a $38.00 target price on shares of ACM Research in a research note on Wednesday, August 7th.

ACM Research Stock Down 8.9 %

The stock has a market cap of $902.11 million, a PE ratio of 11.86 and a beta of 1.54. 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 company’s 50-day moving average price is $19.23 and its 200 day moving average price is $20.03.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings results on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.28 by $0.35. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The firm had revenue of $204.00 million during the quarter, compared to analyst estimates of $191.18 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, analysts forecast that ACM Research, Inc. will post 1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On ACM Research

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACMR. Erste Asset Management GmbH purchased a new stake in ACM Research in the 3rd quarter worth approximately $37,000. CWM LLC increased its holdings in ACM Research by 297.1% in the 2nd quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 1,444 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in ACM Research in the 2nd quarter worth approximately $59,000. Truvestments Capital LLC purchased a new stake in ACM Research during the 3rd quarter valued at approximately $72,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in ACM Research during the 2nd quarter valued at approximately $99,000. 66.75% of the stock is owned by hedge funds and other 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.