ACM Research, Inc. (NASDAQ:ACMR) Short Interest Update

ACM Research, Inc. (NASDAQ:ACMR) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 4,550,000 shares, a decrease of 8.1% from the October 15th total of 4,950,000 shares. Based on an average daily volume of 1,300,000 shares, the days-to-cover ratio is currently 3.5 days.

Insider Activity at ACM Research

In related news, major shareholder Science & Technology Shanghai sold 26,300 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $20.01, for a total value of $526,263.00. Following the completion of the transaction, the insider now directly owns 3,403,906 shares in the company, valued at approximately $68,112,159.06. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Xiao Xing sold 90,396 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $21.13, for a total value of $1,910,067.48. Following the transaction, the director now owns 2,338,510 shares of the company’s stock, valued at $49,412,716.30. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,116,516 shares of company stock worth $24,573,590. 31.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ACM Research

Several hedge funds have recently added to or reduced their stakes in ACMR. Erste Asset Management GmbH acquired a new position in ACM Research in the third quarter valued at about $37,000. CWM LLC raised its position in shares of ACM Research by 297.1% during the second quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 1,444 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of ACM Research during the second quarter worth about $59,000. Truvestments Capital LLC acquired a new stake in shares of ACM Research during the third quarter worth about $72,000. Finally, Lazard Asset Management LLC raised its position in shares of ACM Research by 1,197.6% during the first quarter. Lazard Asset Management LLC now owns 3,218 shares of the specialty retailer’s stock worth $93,000 after purchasing an additional 2,970 shares during the period. Institutional investors and hedge funds own 66.75% of the company’s stock.

ACM Research Price Performance

ACM Research stock opened at $18.45 on Tuesday. The business’s 50-day simple moving average is $18.94 and its 200 day simple moving average is $20.60. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 14.23 and a beta of 1.54. ACM Research has a 12-month low of $13.94 and a 12-month high of $34.40. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings results on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.35. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The business had revenue of $204.00 million for the quarter, compared to analysts’ expectations of $191.18 million. During the same quarter last year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, research analysts anticipate that ACM Research will post 0.92 earnings per share for the current year.

Analyst Ratings Changes

ACMR has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of ACM Research in a research note on Tuesday, October 1st. Roth Mkm dropped their price objective on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and set a $38.00 target price on shares of ACM Research in a report on Wednesday, August 7th.

ACM Research Company Profile

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.