ACM Research (NASDAQ:ACMR) Stock Price Up 7.9% – Here’s What Happened

ACM Research, Inc. (NASDAQ:ACMR) rose 7.9% during trading on Friday . The stock traded as high as $29.94 and last traded at $29.61. Approximately 724,760 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 1,660,756 shares. The stock had previously closed at $27.44.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ACMR shares. Craig Hallum upgraded ACM Research from a “hold” rating to a “buy” rating in a research note 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 shares of ACM Research in a research note on Friday, February 28th. They set an “overweight” rating and a $36.00 price target for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, ACM Research currently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

ACM Research Stock Performance

The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.70 billion, a PE ratio of 22.11 and a beta of 1.61. The firm’s 50-day simple moving average is $21.87 and its 200-day simple moving average is $19.19.

Insider Activity

In other news, insider David H. Wang sold 56,250 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $26.57, for a total transaction of $1,494,562.50. Following the sale, the insider now directly owns 747,708 shares of the company’s stock, valued at $19,866,601.56. The trade was a 7.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sotheara Cheav sold 22,598 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $23.00, for a total value of $519,754.00. Following the completion of the transaction, the insider now directly owns 100,002 shares in the company, valued at approximately $2,300,046. The trade was a 18.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,348 shares of company stock worth $3,038,067. 31.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACM Research

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new stake in ACM Research during the 3rd quarter worth about $37,000. Tower Research Capital LLC TRC grew its position in ACM Research by 506.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,018 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 1,685 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in ACM Research during the 4th quarter worth about $33,000. Picton Mahoney Asset Management grew its position in ACM Research by 66.2% during the 4th quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer’s stock worth $47,000 after purchasing an additional 1,236 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in shares of ACM Research during the 3rd quarter valued at about $72,000. Hedge funds and other 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.