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Selling Buzz: ACM Research Inc [ACMR] insider Wang Jian sells 30,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. ACM Research Inc shares valued at $690,576 were sold by Wang Jian on Jun 11 ’24. At $23.02 per share, Wang Jian sold 30,000 shares. The insider’s holdings dropped to 253,158 shares worth approximately $5.83 million following the completion of this transaction.

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Also, Wang Jian sold 30,000 shares, netting a total of over 662,100 in proceeds. Following the sale of shares at $22.07 each, the insider now holds 253,158 shares.

Before that, Wang Jian had sold 30,000 shares from its account. In a trade valued at $662,100, the insider traded ACM Research Inc shares for $22.07 each. Upon closing the transaction, the insider’s holdings decreased to 30,000 shares, worth approximately $5.83 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 -6.27%. Over the course of the year, ACM Research Inc shares have jumped approximately 17.81%. 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 $24.88, while a 200-day SMA reached $21.43. Nevertheless, trading volume fell to 1.21 million shares from 1.32 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 22.51, which, if violated, would cause prices to drop to 22.00. In the upper region, resistance lies at 23.84. The next price resistance is at 24.66. RSI (Relative Strength Index) is 46.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.59, which suggests the price will decrease in the coming days. Percent R is at 58.47%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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