ACM Research (NASDAQ:ACMR) Shares Down 9.6% – Here’s Why

ACM Research, Inc. (NASDAQ:ACMR) traded down 9.6% during mid-day trading on Thursday . The company traded as low as $46.76 and last traded at $46.82. 669,758 shares were traded during trading, a decline of 59% from the average session volume of 1,616,372 shares. The stock had previously closed at $51.82.

Analyst Ratings Changes

ACMR has been the topic of several research reports. Weiss Ratings raised shares of ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Zacks Research upgraded shares of ACM Research from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen raised ACM Research from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, ACM Research currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

ACM Research Trading Down 7.0%

The stock has a market cap of $2.73 billion, a PE ratio of 32.79 and a beta of 1.49. The firm has a 50-day moving average price of $55.11 and a 200-day moving average price of $42.08. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.33 and a current ratio of 3.27.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACMR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ACM Research by 10.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,061 shares of the specialty retailer’s stock valued at $748,000 after acquiring an additional 3,065 shares in the last quarter. Caxton Associates LLP purchased a new stake in ACM Research during the 1st quarter valued at $250,000. Strs Ohio purchased a new stake in ACM Research during the 1st quarter valued at $133,000. Resona Asset Management Co. Ltd. increased its holdings in shares of ACM Research by 14.9% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 7,730 shares of the specialty retailer’s stock worth $199,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Savant Capital LLC bought a new stake in shares of ACM Research in the 2nd quarter worth $344,000. Institutional investors own 66.75% of the company’s stock.

About ACM Research

ACM Research, Inc (NASDAQ:ACMR) designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.