ACM Research (NASDAQ:ACMR) Stock Price Down 6.8%

Shares of ACM Research, Inc. (NASDAQ:ACMR) were down 6.8% during mid-day trading on Wednesday . The company traded as low as $19.52 and last traded at $19.57. Approximately 759,244 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 1,473,973 shares. The stock had previously closed at $21.00.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price objective on shares of ACM Research in a research report on Thursday, May 9th.

ACM Research Stock Down 8.0 %

The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $22.99 and its 200-day simple moving average is $24.15. The firm has a market capitalization of $1.10 billion, a P/E ratio of 14.64 and a beta of 1.55.

ACM Research (NASDAQ:ACMR) last released its earnings results on Wednesday, May 8th. The specialty retailer reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The firm had revenue of $152.19 million for the quarter, compared to analysts’ expectations of $151.00 million. ACM Research had a net margin of 13.79% and a return on equity of 10.26%. As a group, research analysts predict that ACM Research, Inc. will post 1 earnings per share for the current fiscal year.

Insider Buying and Selling at ACM Research

In other ACM Research news, Director Haiping Dun sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $22.88, for a total value of $343,200.00. Following the transaction, the director now directly owns 874,329 shares in the company, valued at $20,004,647.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider David H. Wang sold 86,090 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $22.62, for a total transaction of $1,947,355.80. Following the sale, the insider now directly owns 504,018 shares in the company, valued at approximately $11,400,887.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Haiping Dun sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $22.88, for a total transaction of $343,200.00. Following the sale, the director now owns 874,329 shares in the company, valued at $20,004,647.52. The disclosure for this sale can be found here. Insiders have sold a total of 240,329 shares of company stock worth $5,440,934 over the last three months. 31.24% of the stock is currently owned by insiders.

Institutional Trading of ACM Research

A number of institutional investors have recently modified their holdings of ACMR. CWM LLC lifted its stake in ACM Research by 297.1% in the 2nd quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 1,444 shares in the last quarter. Lazard Asset Management LLC lifted its stake in ACM Research by 1,197.6% in the 1st quarter. Lazard Asset Management LLC now owns 3,218 shares of the specialty retailer’s stock worth $93,000 after purchasing an additional 2,970 shares in the last quarter. Headlands Technologies LLC purchased a new stake in ACM Research in the 4th quarter worth approximately $66,000. SG Americas Securities LLC purchased a new stake in ACM Research in the 1st quarter worth approximately $196,000. Finally, Transcendent Capital Group LLC purchased a new stake in ACM Research in the 4th quarter worth approximately $145,000. 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.