A company insider recently sold 36,537 shares of ACM Research Inc. [ACMR]. Should You Sale?

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PFE Stock
PFE Stock

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. ACM Research Inc. shares valued at $588,246 were sold by Dun Haiping on Aug 22. At $16.10 per share, Dun Haiping sold 36,537 shares. The insider’s holdings dropped to 855,090 shares worth approximately $7.41 million following the completion of this transaction.


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Also, Cheav Sotheara sold 10,000 shares, netting a total of over 175,000 in proceeds. Following the sale of shares at $17.50 each, the insider now holds 110,002 shares.

Before that, Cheav Sotheara had sold 15,000 shares from its account. In a trade valued at $267,096, the insider traded ACM Research Inc. shares for $17.81 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $1.04 million.

As published in a research note from Jefferies on November 07, 2022, ACM Research Inc. [ACMR] has been rated up from an Underperform to a Hold and the price target has been revised to $7 from $8. This represents a -23.86% premium over Wednesday’s closing price. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid October. As of October 11, 2022, Jefferies has decreased its “Buy” rating to a “an Underperform” for ACMR. Earlier on May 09, 2022, Goldman downgraded its rating. Their new recommendation was “a Neutral” for ACMR stock which previously was a “a Buy”.

Analyzing ACMR Stock Performance

On Wednesday, ACM Research Inc. [NASDAQ: ACMR] plunged -0.80% to $8.67. The stock’s lowest price that day was $8.60, but it reached a high of $9.05 in the same session. During the last five days, there has been a drop of approximately -0.23%. Over the course of the year, ACM Research Inc. shares have dropped approximately -69.50%. Shares of the company reached a 52-week high of $30.53 on 01/05/22 and a 52-week low of $5.46 on 10/24/22. A 50-day SMA is recorded $9.75, while a 200-day SMA reached $15.91. Nevertheless, trading volume fell to 0.38 million shares from 0.35 million shares the previous day.

Support And Resistance Levels for ACM Research Inc. (ACMR)

According to the 24-hour chart, there is a support level at 8.50, which, if violated, would cause prices to drop to 8.32. In the upper region, resistance lies at 8.95. The next price resistance is at 9.22. RSI (Relative Strength Index) is 49.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.04, which suggests the price will decrease in the coming days. Percent R is at 39.18%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is ACM Research Inc. subject to short interest?

Stocks of ACM Research Inc. saw a sharp steep in short interest on Oct 13, 2022 dropping by -0.45 million shares to 4.53 million. Data from Yahoo Finance shows that the short interest on Sep 14, 2022 was 4.98 million shares. A decline of -9.93% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.57 of the overall float, the days-to-cover ratio (short ratio) decline to 6.57.

Which companies own the most shares of ACM Research Inc. (ACMR)?

According to Morgan Stanley & Co. LLC filings, the company currently owns 3,678,132 shares, which is about 6.79% of the total ACMR shares outstanding. The investor’s shares have plunged by -292,832 from its previous 13-F filing of 3970964.0 shares. BlackRock Fund Advisors acquire a 2.20% interest valued at $17.93 million while Bank of America, NA purchased a 1,657,204 stake. A total of 242,246 shares of ACM Research Inc. were bought by The Vanguard Group, Inc. during the quarter, and 221,453 were bought by Indus Capital Partners LLC. In its current portfolio, Citigroup Global Markets, Inc. holds 1,763,122 shares valued at $11.28 million.

In terms of ACM Research Inc. share price expectations, FactSet research, analysts set an average price target of $15.42 in the next 12 months, up nearly 71.62% from the previous closing price of $8.74. Analysts anticipate ACM Research Inc. stock to reach $32.00 by 2022, with the lowest price target being $7.00. In spite of this, 9 analysts ranked ACM Research Inc. stock as an Overweight at the end of 2022. On December 17, 2021, Needham assigned a price target of “a Buy” to the stock and upgraded coverage with a $100.

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