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

ACM Research, Inc. (NASDAQ:ACMR)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $18.90, but opened at $21.70. ACM Research shares last traded at $21.52, with a volume of 2,160,890 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Benchmark reiterated a “buy” rating and set a $38.00 target price on shares of ACM Research in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of ACM Research in a report on Tuesday. Finally, Roth Mkm cut their price objective on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th.

ACM Research Trading Up 13.6 %

The stock has a market capitalization of $1.22 billion, a P/E ratio of 16.29 and a beta of 1.52. The company has a current ratio of 2.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $17.93 and its two-hundred day moving average price is $22.64.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.25. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The company had revenue of $202.50 million during the quarter, compared to analyst estimates of $163.05 million. During the same period in the prior year, the business posted $0.45 EPS. The firm’s revenue was up 40.0% compared to the same quarter last year. Equities research analysts forecast that ACM Research, Inc. will post 0.92 EPS for the current year.

Insider Buying and Selling at ACM Research

In other news, Director Xiao Xing sold 8,304 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $20.19, for a total value of $167,657.76. Following the sale, the director now directly owns 3,430,206 shares of the company’s stock, valued at $69,255,859.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other ACM Research news, major shareholder Science & Technology Shanghai sold 26,300 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $20.01, for a total transaction of $526,263.00. Following the transaction, the insider now owns 3,403,906 shares in the company, valued at approximately $68,112,159.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Xiao Xing sold 8,304 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total value of $167,657.76. Following the completion of the sale, the director now owns 3,430,206 shares of the company’s stock, valued at approximately $69,255,859.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 31.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Cim LLC boosted its holdings in shares of ACM Research by 8.6% during the 2nd quarter. Cim LLC now owns 16,788 shares of the specialty retailer’s stock valued at $387,000 after purchasing an additional 1,326 shares during the last quarter. Connective Capital Management LLC bought a new position in shares of ACM Research during the 2nd quarter valued at about $323,000. Algert Global LLC boosted its holdings in shares of ACM Research by 29.7% during the 2nd quarter. Algert Global LLC now owns 28,215 shares of the specialty retailer’s stock valued at $651,000 after purchasing an additional 6,465 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of ACM Research by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,454 shares of the specialty retailer’s stock valued at $449,000 after purchasing an additional 1,382 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of ACM Research by 283.9% during the 2nd quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock valued at $21,310,000 after purchasing an additional 683,361 shares during the last quarter. Institutional investors own 66.75% of the company’s stock.

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.