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

Shares of ACM Research, Inc. (NASDAQ:ACMR) traded down 4.4% on Thursday after an insider sold shares in the company. The company traded as low as $28.04 and last traded at $27.94. 489,553 shares were traded during trading, a decline of 71% from the average session 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 sale, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Haiping Dun sold 9,518 shares of the firm’s stock in a transaction 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 owns 755,090 shares in the company, valued at $21,897,610. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ACMR. Craig Hallum upgraded ACM Research from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. began coverage on ACM Research in a report on Friday, February 28th. They issued an “overweight” rating and a $36.00 target price on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ACM Research in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

ACM Research Stock Down 2.3 %

The firm has a 50-day simple moving average of $23.17 and a 200 day simple moving average of $19.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34. The company has a market capitalization of $1.56 billion, a PE ratio of 20.36 and a beta of 1.61.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC raised its position in ACM Research by 35.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 70,655 shares of the specialty retailer’s stock valued at $1,067,000 after purchasing an additional 18,617 shares during the period. Algert Global LLC increased its position in shares of ACM Research by 530.5% during the third quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock worth $3,611,000 after acquiring an additional 149,670 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of ACM Research during the fourth quarter worth about $5,782,000. Barclays PLC increased its position in shares of ACM Research by 63.3% during the third quarter. Barclays PLC now owns 137,584 shares of the specialty retailer’s stock worth $2,793,000 after acquiring an additional 53,319 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of ACM Research during the third quarter worth about $700,000. 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.