ACM Research (NASDAQ:ACMR) Shares Up 4.2% – Here’s What Happened

ACM Research, Inc. (NASDAQ:ACMR)’s stock price traded up 4.2% during mid-day trading on Tuesday . The stock traded as high as $25.43 and last traded at $25.34. 1,131,316 shares were traded during mid-day trading, a decline of 31% from the average session volume of 1,638,628 shares. The stock had previously closed at $24.31.

Analyst Ratings Changes

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

ACM Research Stock Performance

The company’s fifty day simple moving average is $19.77 and its two-hundred day simple moving average is $18.71. 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 stock has a market capitalization of $1.47 billion, a P/E ratio of 19.35 and a beta of 1.58.

Insider Activity

In other news, insider Sotheara Cheav sold 22,598 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 100,002 shares of the company’s stock, valued at approximately $2,300,046. The trade was a 18.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On ACM Research

Hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC grew its position 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 worth $1,067,000 after purchasing an additional 18,617 shares in the last quarter. Algert Global LLC boosted its stake in shares of ACM Research by 530.5% in the third quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock valued at $3,611,000 after buying an additional 149,670 shares during the period. SG Americas Securities LLC acquired a new stake in ACM Research during the fourth quarter worth approximately $5,782,000. Barclays PLC increased its stake in ACM Research by 63.3% during the 3rd 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 period. Finally, XTX Topco Ltd acquired a new position in ACM Research in the 3rd quarter valued at $700,000. 66.75% of the stock is owned by institutional investors.

ACM Research Company Profile

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.