ACM Research (NASDAQ:ACMR) Shares Gap Up - Should You Buy?

Shares of ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $15.49, but opened at $16.50. ACM Research shares last traded at $17.78, with a volume of 636,781 shares changing hands.

Analyst Ratings Changes

ACMR has been the subject of several research reports. Craig Hallum downgraded ACM Research from a "buy" rating to a "hold" rating and cut their price objective for the stock from $30.00 to $18.00 in a research report on Thursday, December 5th. Needham & Company LLC downgraded ACM Research from a "buy" rating to a "hold" rating and set a $25.00 price objective on the stock. in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.00.

ACM Research Price Performance

The company's 50 day simple moving average is $16.57 and its 200 day simple moving average is $18.42. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.02 billion, a PE ratio of 13.39 and a beta of 1.48.

ACM Research (NASDAQ:ACMR - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.35. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The business had revenue of $204.00 million during the quarter, compared to the consensus estimate of $191.18 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The business's revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities analysts anticipate that ACM Research, Inc. will post 1.12 earnings per share for the current year.

Insider Transactions at ACM Research

In other news, Director Haiping Dun sold 15,000 shares of the business's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $19.12, for a total transaction of $286,800.00. Following the completion of the sale, the director now directly owns 774,148 shares of the company's stock, valued at $14,801,709.76. The trade was a 1.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David H. Wang sold 56,250 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $17.89, for a total value of $1,006,312.50. Following the completion of the transaction, the insider now directly owns 654,256 shares in the company, valued at $11,704,639.84. This trade represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,500 shares of company stock worth $2,366,363 in the last three months. Company insiders own 31.24% of the company's stock.

Hedge Funds Weigh In On ACM Research

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position in ACM Research by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,180,741 shares of the specialty retailer's stock worth $23,973,000 after purchasing an additional 26,620 shares in the last quarter. Millennium Management LLC increased its position in shares of ACM Research by 283.9% in the second quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer's stock worth $21,310,000 after acquiring an additional 683,361 shares in the last quarter. Portolan Capital Management LLC raised its stake in shares of ACM Research by 7.7% in the 3rd quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer's stock valued at $18,705,000 after acquiring an additional 65,616 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of ACM Research by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,858 shares of the specialty retailer's stock valued at $8,239,000 after acquiring an additional 13,879 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of ACM Research by 8.7% during the 3rd quarter. Citigroup Inc. now owns 340,207 shares of the specialty retailer's stock valued at $6,906,000 after acquiring an additional 27,178 shares in the last quarter. 66.75% of the stock is owned by institutional investors and hedge funds.

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.