ACM Research (NASDAQ:ACMR) Shares Gap Down – Time to Sell?

ACM Research, Inc. (NASDAQ:ACMR) shares gapped down before the market opened on Wednesday . The stock had previously closed at $38.90, but opened at $30.80. ACM Research shares last traded at $32.2040, with a volume of 1,102,852 shares traded.

Wall Street Analysts Forecast Growth

ACMR has been the topic of several research reports. Weiss Ratings raised ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 24th. Roth Capital reiterated a “buy” rating and set a $50.00 price target (up from $40.00) on shares of ACM Research in a report on Monday, September 29th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.25.

ACM Research Price Performance

The business’s fifty day simple moving average is $36.22 and its 200-day simple moving average is $29.18. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.88 billion, a P/E ratio of 19.31 and a beta of 1.44.

ACM Research (NASDAQ:ACMR) last announced its earnings results on Wednesday, August 6th. The specialty retailer reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. ACM Research had a net margin of 13.76% and a return on equity of 9.57%. The company had revenue of $215.37 million during the quarter, compared to analyst estimates of $223.42 million. During the same period in the previous year, the business earned $0.55 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, analysts forecast that ACM Research, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity at ACM Research

In related news, insider Sotheara Cheav sold 11,152 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $334,560.00. Following the completion of the transaction, the insider directly owned 100,002 shares in the company, valued at approximately $3,000,060. The trade was a 10.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David H. Wang sold 70,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $26.76, for a total transaction of $1,873,200.00. Following the sale, the insider owned 672,708 shares of the company’s stock, valued at approximately $18,001,666.08. The trade was a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 256,152 shares of company stock valued at $7,549,160 over the last ninety days. 25.00% of the stock is currently owned by insiders.

Institutional Trading of ACM Research

A number of institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of ACM Research by 39.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,302,351 shares of the specialty retailer’s stock worth $59,631,000 after purchasing an additional 649,116 shares during the period. Federated Hermes Inc. raised its stake in ACM Research by 32.5% in the second quarter. Federated Hermes Inc. now owns 1,421,688 shares of the specialty retailer’s stock worth $36,822,000 after buying an additional 348,936 shares in the last quarter. Triata Capital Ltd raised its stake in ACM Research by 33.5% in the first quarter. Triata Capital Ltd now owns 1,371,125 shares of the specialty retailer’s stock worth $32,002,000 after buying an additional 344,158 shares in the last quarter. Invesco Ltd. raised its stake in ACM Research by 18.2% in the first quarter. Invesco Ltd. now owns 1,339,102 shares of the specialty retailer’s stock worth $31,255,000 after buying an additional 206,149 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of ACM Research by 1.8% during the second quarter. Geode Capital Management LLC now owns 1,238,031 shares of the specialty retailer’s stock valued at $32,069,000 after purchasing an additional 21,366 shares in the last quarter. 66.75% of the stock is currently 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.