Short Interest in ACM Research, Inc. (NASDAQ:ACMR) Rises By 9.9%

ACM Research, Inc. (NASDAQ:ACMR) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 4,310,000 shares, a growth of 9.9% from the November 30th total of 3,920,000 shares. Based on an average trading volume of 1,570,000 shares, the days-to-cover ratio is presently 2.7 days.

ACM Research Trading Down 0.9 %

Shares of ACM Research stock opened at $15.07 on Tuesday. The company has a 50-day moving average of $17.35 and a two-hundred day moving average of $18.98. The stock has a market cap of $868.12 million, a PE ratio of 11.42 and a beta of 1.48. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. ACM Research has a 12-month low of $13.87 and a 12-month high of $34.40.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $204.00 million during the quarter, compared to analysts’ expectations of $191.18 million. During the same period in the previous year, the firm posted $0.41 earnings per share. ACM Research’s revenue was up 21.0% on a year-over-year basis. On average, research analysts anticipate that ACM Research will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on ACMR. Needham & Company LLC lowered ACM Research from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a report on Wednesday, December 4th. Craig Hallum downgraded shares of ACM Research from a “buy” rating to a “hold” rating and cut their price objective for the stock from $30.00 to $18.00 in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Insider Transactions at ACM Research

In other news, Director Xiao Xing sold 700,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $21.41, for a total transaction of $14,987,000.00. Following the completion of the sale, the director now owns 2,703,906 shares in the company, valued at approximately $57,890,627.46. This represents a 20.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David H. Wang sold 56,250 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $17.89, for a total value of $1,006,312.50. Following the completion of the transaction, the insider now owns 654,256 shares in the company, valued at $11,704,639.84. This trade represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,235,712 shares of company stock worth $26,772,295. Insiders own 31.24% of the company’s stock.

Hedge Funds Weigh In On ACM Research

Several hedge funds have recently added to or reduced their stakes in ACMR. Millennium Management LLC grew its position in shares of ACM Research by 283.9% in the second quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock valued at $21,310,000 after purchasing an additional 683,361 shares during the last quarter. Algert Global LLC lifted its stake in ACM Research by 530.5% in the 3rd quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock valued at $3,611,000 after buying an additional 149,670 shares in the last quarter. Portolan Capital Management LLC grew its holdings in ACM Research by 7.7% during the 3rd quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock valued at $18,705,000 after buying an additional 65,616 shares during the last quarter. Seven Eight Capital LP increased its position in ACM Research by 625.1% during the second quarter. Seven Eight Capital LP now owns 75,517 shares of the specialty retailer’s stock worth $1,741,000 after buying an additional 65,102 shares in the last quarter. Finally, Richard P Slaughter Associates Inc raised its holdings in shares of ACM Research by 94.9% in the third quarter. Richard P Slaughter Associates Inc now owns 127,810 shares of the specialty retailer’s stock worth $2,595,000 after acquiring an additional 62,247 shares during the last quarter. 66.75% of the stock is currently owned by hedge funds and other 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.