Do Analysts Think ACM Research Inc (ACMR) Is Still Worth Buying In 2024?

ACM Research Inc (NASDAQ:ACMR) does about 1.21M shares in volume on a normal day but saw 1020289 shares change hands in Friday trading. The company now has a market cap of 1.48B USD. Its current market price is $23.94, marking an increase of 0.29% compared to the previous close of $23.87. The 52 week high reached by this stock is $34.40 whilst the lowest price level in 52 weeks is $11.82.

ACM Research Inc (ACMR) has a 20-day trading average at $23.20 and the current price is -30.41% off the 52-week high compared with 102.60% distance from its 52-week low. The 50-day simple moving average of the closing price is $23.89 and its 200-day simple moving average is $21.68. If we look at the stock’s price movements over the week, volatility stands at 5.47%, which increases to 5.87% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 54.06 to suggest the stock is neutral.

The consensus objective for the share price is $37.93, suggesting that the stock has a potential upside of 36.88% over the period.

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The company shares received a number of brokerage firm price updates over the past month, with the latest being on February 29, 2024 when Goldman upgraded the stock to “Buy” and issued a price target of $39. Jefferies also upgraded the stock to “Buy” from Underperform on July 03, 2023 at a price target of $9-$23.40.

ACM Research Inc (ACMR) stock is up 7.02% over the week and 16.21% over the past month. Its price is 22.52% year-to-date and 72.60% over the past year.

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To reach the target analysts have set, the stock logically needs to grow 36.88 percent from here.

The company has a return on investment of 10.27% and return on equity of 11.78%. The price to earnings ratio (P/E ratio) amounts to 18.24 while the forward price to earnings ratio is 12.82. The beta has a value of 1.55. Price to book ratio is 1.86 and price to sales ratio is 2.34.

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