The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. ACM Research Inc shares valued at $2,405,050 were sold by Wang David H on Mar 14 ’24. At $27.62 per share, Wang David H sold 87,089 shares. The insider’s holdings dropped to 504,018 shares worth approximately $15.15 million following the completion of this transaction.
Also, Dun Haiping sold 19,434 shares, netting a total of over 538,376 in proceeds. Following the sale of shares at $27.70 each, the insider now holds 855,090 shares.
Before that, Cheav Sotheara had sold 5,000 shares from its account. In a trade valued at $139,428, the insider traded ACM Research Inc shares for $27.89 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $3.01 million.
As published in a research note from Goldman on February 29, 2024, ACM Research Inc [ACMR] has been rated up from a Neutral to a Buy and the price target has been revised to $39. Analysts at Jefferies upgraded the stock from ‘”an Underperform”‘ to ‘”a Buy”‘ outlook in a report released in early July. As of March 06, 2023, Morgan Stanley has increased its “an Underweight” rating to a “an Overweight” for ACMR. Earlier on February 27, 2023, Jefferies downgraded its rating. Their new recommendation was “an Underperform” for ACMR stock which previously was a “a Hold”.
Analyzing ACMR Stock Performance
During the last five days, there has been a drop of approximately -1.83%. Over the course of the year, ACM Research Inc shares have jumped approximately 53.79%. Shares of the company reached a 52-week high of $34.40 on 03/01/24 and a 52-week low of $15.70 on 02/05/24. A 50-day SMA is recorded $25.61, while a 200-day SMA reached $18.80. Nevertheless, trading volume fell to 0.94 million shares from 1.29 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 28.87, which, if violated, would cause prices to drop to 27.68. In the upper region, resistance lies at 30.67. The next price resistance is at 31.28. RSI (Relative Strength Index) is 54.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.72, which suggests the price will decrease in the coming days. Percent R is at 63.81%, 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 Mar 15, 2024 dropping by -0.36 million shares to 3.25 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.61 million shares. A decline of -11.08% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.28 of the overall float, the days-to-cover ratio (short ratio) decline to 1.28.
