ACM Research (NASDAQ:ACMR) Shares Down 3.1%

ACM Research, Inc. (NASDAQ:ACMR) shares dropped 3.1% during trading on Friday . The stock traded as low as $16.00 and last traded at $16.01. Approximately 67,877 shares were traded during trading, a decline of 95% from the average daily volume of 1,450,199 shares. The stock had previously closed at $16.53.

Wall Street Analyst Weigh In

ACMR has been the topic of several analyst reports. Benchmark restated a “buy” rating and set a $38.00 price target on shares of ACM Research in a research note on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of ACM Research in a research note on Thursday, August 8th. Finally, Roth Mkm dropped their price target on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

ACM Research Trading Down 5.3 %

The company has a current ratio of 2.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average is $19.83 and its 200-day moving average is $23.90. The firm has a market capitalization of $891.85 million, a P/E ratio of 11.86 and a beta of 1.52.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.25. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The firm had revenue of $202.50 million during the quarter, compared to the consensus estimate of $163.05 million. During the same period in the prior year, the firm earned $0.45 EPS. The business’s revenue was up 40.0% on a year-over-year basis. As a group, sell-side analysts anticipate that ACM Research, Inc. will post 0.92 earnings per share for the current fiscal year.

Institutional Trading of ACM Research

A number of hedge funds have recently bought and sold shares of ACMR. CWM LLC boosted its holdings in ACM Research by 297.1% in the 2nd quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 1,444 shares during the period. Picton Mahoney Asset Management bought a new position in shares of ACM Research during the 2nd quarter worth about $59,000. Lazard Asset Management LLC lifted its holdings in shares of ACM Research by 1,197.6% during the 1st quarter. Lazard Asset Management LLC now owns 3,218 shares of the specialty retailer’s stock worth $93,000 after acquiring an additional 2,970 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of ACM Research during the 2nd quarter worth about $99,000. Finally, Palouse Capital Management Inc. bought a new position in shares of ACM Research during the 2nd quarter worth about $105,000. 66.75% of the stock is owned by institutional investors.

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.