ACM Research (NASDAQ:ACMR) Shares Down 8.7% - Here's What Happened

ACM Research, Inc. (NASDAQ:ACMR - Get Free Report)'s share price dropped 8.7% during mid-day trading on Monday . The stock traded as low as $23.77 and last traded at $23.79. Approximately 1,575,721 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 1,468,525 shares. The stock had previously closed at $26.04.

Analysts Set New Price Targets

ACMR has been the subject of several research reports. Craig Hallum raised shares of ACM Research from a "hold" rating to a "buy" rating in a research report on Wednesday. Needham & Company LLC restated a "hold" rating on shares of ACM Research in a report on Thursday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $30.00.

ACM Research Stock Performance

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 firm has a market cap of $1.54 billion, a P/E ratio of 20.26 and a beta of 1.58. The firm's fifty day moving average price is $19.16 and its 200 day moving average price is $18.59.

Insider Activity

In other ACM Research news, insider Sotheara Cheav sold 22,598 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $23.00, for a total transaction of $519,754.00. Following the completion of the transaction, the insider now directly owns 100,002 shares in the company, valued at approximately $2,300,046. This represents a 18.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 31.24% of the company's stock.

Institutional Investors Weigh In On ACM Research

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its position in ACM Research by 0.8% during the fourth quarter. Rhumbline Advisers now owns 73,739 shares of the specialty retailer's stock worth $1,113,000 after purchasing an additional 589 shares during the last quarter. Beacon Financial Advisory LLC increased its position in ACM Research by 7.1% during the fourth quarter. Beacon Financial Advisory LLC now owns 14,495 shares of the specialty retailer's stock worth $219,000 after purchasing an additional 960 shares during the last quarter. Arizona State Retirement System increased its position in ACM Research by 7.3% during the fourth quarter. Arizona State Retirement System now owns 14,964 shares of the specialty retailer's stock worth $226,000 after purchasing an additional 1,017 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in ACM Research by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,996 shares of the specialty retailer's stock worth $438,000 after purchasing an additional 1,061 shares during the last quarter. Finally, Picton Mahoney Asset Management increased its position in ACM Research by 66.2% during the fourth quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer's stock worth $47,000 after purchasing an additional 1,236 shares during the last quarter. 66.75% of the stock is currently owned by institutional investors and hedge funds.

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.