ACM Research (NASDAQ:ACMR) Shares Gap Up - Time to Buy?

Key Points

• ACM Research shares opened at $38.80, a notable increase from the previous close of $36.68, and recently traded at $39.32 with significant trading volume.
• The company reported $0.54 EPS for the last quarter, surpassing estimates, although revenue fell short of expectations at $215.37 million.
• Insider trading activity has been notable, with key directors selling large portions of their shares, indicating possible shifts in confidence among corporate insiders.

ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $36.68, but opened at $38.80. ACM Research shares last traded at $39.32, with a volume of 569,995 shares changing hands.

ACM Research Trading Up 6.9%

The company has a 50 day simple moving average of $28.86 and a 200 day simple moving average of $25.62. 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 stock has a market capitalization of $2.32 billion, a PE ratio of 23.70 and a beta of 1.44.

ACM Research (NASDAQ:ACMR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The firm had revenue of $215.37 million during the quarter, compared to the consensus estimate of $223.42 million. ACM Research had a return on equity of 9.57% and a net margin of 13.76%.The firm's revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 EPS. Analysts predict that ACM Research, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Activity at ACM Research

In other ACM Research news, Director Tracy Liu sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $33.00, for a total transaction of $495,000.00. Following the transaction, the director owned 110,772 shares in the company, valued at approximately $3,655,476. The trade was a 11.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jian Wang sold 30,000 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $32.00, for a total value of $960,000.00. Following the transaction, the insider owned 253,158 shares in the company, valued at $8,101,056. The trade was a 10.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 286,152 shares of company stock worth $8,419,160 in the last three months. 25.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACM Research

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV acquired a new position in ACM Research during the 1st quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its position in ACM Research by 656.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,293 shares of the specialty retailer's stock worth $33,000 after purchasing an additional 1,122 shares during the period. Headlands Technologies LLC acquired a new stake in shares of ACM Research in the 2nd quarter worth approximately $114,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of ACM Research by 871.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,673 shares of the specialty retailer's stock worth $109,000 after acquiring an additional 4,192 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of ACM Research in the 1st quarter worth approximately $114,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.