ACM Research Inc’s recent filing unveils that its insider Wang David H unloaded Company’s shares for reported $2.41 million on Mar 14 ’24. In the deal valued at $27.62 per share,87,089 shares were sold. As a result of this transaction, Wang David H now holds 504,018 shares worth roughly $15.72 million.
Then, Dun Haiping sold 19,434 shares, generating $538,376 in total proceeds. Upon selling the shares at $27.70, the Director now owns 855,090 shares.
Before that, Cheav Sotheara sold 5,000 shares. ACM Research Inc shares valued at $139,428 were divested by the insider at a price of $27.89 per share. As a result of the transaction, Cheav Sotheara now holds 100,002 shares, worth roughly $3.12 million.
Goldman upgraded its ACM Research Inc [ACMR] rating to a Buy from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in early July from “an Underperform” to “a Buy”. Morgan Stanley also remained covering ACMR and has increased its forecast on March 06, 2023 with a “an Overweight” recommendation from previously “an Underweight” rating. Jefferies revised its rating on February 27, 2023. It rated ACMR as “an Underperform” which previously was an “a Hold”.
Price Performance Review of ACMR
On Monday, ACM Research Inc [NASDAQ:ACMR] saw its stock fall -2.65% to $31.19. Over the last five days, the stock has gained 2.87%. ACM Research Inc shares have risen nearly 59.62% since the year began. Nevertheless, the stocks have risen 192.04% over the past one year. While a 52-week high of $34.40 was reached on 03/01/24, a 52-week low of $8.75 was recorded on 02/05/24. SMA at 50 days reached $24.95, while 200 days put it at $18.54. A total of 0.82 million shares were traded, compared to the trading of 1.31 million shares in the previous session.
Levels Of Support And Resistance For ACMR Stock
The 24-hour chart illustrates a support level at 30.48, which if violated will result in even more drops to 29.76. On the upside, there is a resistance level at 32.43. A further resistance level may holdings at 33.66. The Relative Strength Index (RSI) on the 14-day chart is 59.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.19, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 23.69%. Stochastics %K at 77.28% indicates the stock is a holding.
How much short interest is there in ACM Research Inc?
A steep rise in short interest was recorded in ACM Research Inc stocks on Mar 15, 2024, dropping by -0.36 million shares to a total of 3.25 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.61 million shares. There was a decline of -11.08%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.23% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.28.
