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 $14,989,026 were sold by Shanghai Science & Technology on Oct 04 ’24. At $21.41 per share, Shanghai Science & Technology sold 700,000 shares. The insider’s holdings dropped to 2,703,906 shares worth approximately $50.51 million following the completion of this transaction.
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Also, Shanghai Science & Technology sold 275,000 shares, netting a total of over 6,620,566 in proceeds. Following the sale of shares at $24.07 each, the insider now holds 2,428,906 shares.
Before that, Shanghai Science & Technology had sold 90,396 shares from its account. In a trade valued at $1,910,067, the Possible member of 10% group traded ACM Research Inc shares for $21.13 each. Upon closing the transaction, the insider’s holdings decreased to 90,396 shares, worth approximately $43.68 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 surge of approximately 0.48%. Over the course of the year, ACM Research Inc shares have dropped approximately -4.40%. Shares of the company reached a 52-week high of $34.40 on 03/01/24 and a 52-week low of $13.94 on 08/05/24. A 50-day SMA is recorded $19.09, while a 200-day SMA reached $22.35. Nevertheless, trading volume fell to 0.59 million shares from 0.5 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 18.33, which, if violated, would cause prices to drop to 17.98. In the upper region, resistance lies at 18.91. The next price resistance is at 19.15. RSI (Relative Strength Index) is 47.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.28, which suggests the price will decrease in the coming days. Percent R is at 81.90%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
