ACM Research (NASDAQ:ACMR) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of ACM Research (NASDAQ:ACMR) in a research report released on Friday morning, Marketbeat reports. The brokerage issued an overweight rating and a $36.00 price objective on the specialty retailer’s stock.

Several other research firms have also weighed in on ACMR. Needham & Company LLC restated a “hold” rating on shares of ACM Research in a report on Thursday. Craig Hallum upgraded ACM Research from a “hold” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.40.

ACM Research Stock Performance

NASDAQ:ACMR opened at $25.94 on Friday. The stock’s fifty day moving average is $19.37 and its 200 day moving average is $18.64. ACM Research has a fifty-two week low of $13.87 and a fifty-two week high of $34.40. The firm has a market capitalization of $1.49 billion, a PE ratio of 19.65 and a beta of 1.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37.

Insider Buying and Selling at ACM Research

In other ACM Research news, insider Sotheara Cheav sold 22,598 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $23.00, for a total value of $519,754.00. Following the transaction, the insider now owns 100,002 shares of the company’s stock, valued at $2,300,046. This represents a 18.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 31.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACM Research

Several hedge funds have recently bought and sold shares of ACMR. Tower Research Capital LLC TRC grew its position in shares of ACM Research by 506.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,018 shares of the specialty retailer’s stock worth $30,000 after buying an additional 1,685 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ACM Research during the 4th quarter worth $33,000. Erste Asset Management GmbH bought a new position in shares of ACM Research during the 3rd quarter worth $37,000. Picton Mahoney Asset Management grew its position in shares of ACM Research by 66.2% during the 4th quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer’s stock worth $47,000 after buying an additional 1,236 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of ACM Research during the 3rd quarter worth $72,000. Institutional investors own 66.75% of the company’s stock.

About ACM Research

ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.