ACM Research (NASDAQ:ACMR) Shares Gap Down - Here's Why

ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $20.80, but opened at $19.44. ACM Research shares last traded at $18.43, with a volume of 298,578 shares.

Analyst Ratings Changes

Several equities analysts have commented on ACMR shares. Needham & Company LLC reiterated a "hold" rating on shares of ACM Research in a research note on Thursday, February 27th. Craig Hallum upgraded shares of ACM Research from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Finally, 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 for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $29.40.

ACM Research Stock Up 7.2 %

The firm's 50-day simple moving average is $23.36 and its 200 day simple moving average is $20.15. 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 company has a market capitalization of $1.16 billion, a PE ratio of 15.10 and a beta of 1.65.

Insiders Place Their Bets

In other news, insider Sotheara Cheav sold 22,598 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $23.00, for a total value of $519,754.00. Following the completion of the transaction, the insider now owns 100,002 shares in the company, valued at $2,300,046. This trade represents a 18.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Haiping Dun sold 9,518 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $29.00, for a total transaction of $276,022.00. Following the transaction, the director now directly owns 755,090 shares of the company's stock, valued at approximately $21,897,610. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 289,174 shares of company stock worth $8,213,329. 31.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On ACM Research

Several institutional investors and hedge funds have recently modified their holdings of ACMR. KBC Group NV purchased a new stake in shares of ACM Research in the first quarter valued at $29,000. Tower Research Capital LLC TRC grew its holdings in ACM Research by 506.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,018 shares of the specialty retailer's stock valued at $30,000 after buying an additional 1,685 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of ACM Research during the 4th quarter valued at about $33,000. Picton Mahoney Asset Management increased its stake in shares of ACM Research by 66.2% during the 4th quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer's stock valued at $47,000 after acquiring an additional 1,236 shares during the last quarter. Finally, Palouse Capital Management Inc. boosted its position in shares of ACM Research by 76.0% in the first quarter. Palouse Capital Management Inc. now owns 5,115 shares of the specialty retailer's stock worth $119,000 after acquiring an additional 2,208 shares during the last quarter. Hedge funds and other institutional investors own 66.75% of the company's stock.

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.