ACM Research, Inc. (NASDAQ:ACMR) Sees Large Decrease in Short Interest

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ACMR shares. Roth Mkm decreased their price target on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $25.00 target price on shares of ACM Research in a research note on Tuesday, October 1st. Finally, Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of ACM Research in a report on Wednesday, August 7th.

Insider Activity at ACM Research

In other news, major shareholder Science & Technology Shanghai sold 26,300 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $20.01, for a total transaction of $526,263.00. Following the sale, the insider now directly owns 3,403,906 shares in the company, valued at $68,112,159.06. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark Mckechnie sold 16,516 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $22.00, for a total transaction of $363,352.00. Following the completion of the sale, the insider now directly owns 900 shares in the company, valued at approximately $19,800. The trade was a 94.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,116,516 shares of company stock worth $24,573,590. Corporate insiders own 31.24% of the company’s stock.

Hedge Funds Weigh In On ACM Research

A number of large investors have recently modified their holdings of the company. Erste Asset Management GmbH bought a new position in ACM Research during the third quarter valued at approximately $37,000. CWM LLC grew its holdings in shares of ACM Research by 297.1% during 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 last quarter. Picton Mahoney Asset Management purchased a new position in ACM Research in the 2nd quarter worth $59,000. Lazard Asset Management LLC lifted its stake in ACM Research by 1,197.6% in 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 last quarter. Finally, Truvestments Capital LLC purchased a new stake in ACM Research during the third quarter valued at about $72,000. 66.75% of the stock is owned by hedge funds and other institutional investors.

ACM Research Stock Performance

ACM Research stock opened at $18.33 on Friday. ACM Research has a fifty-two week low of $13.94 and a fifty-two week high of $34.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37. The stock has a market cap of $1.06 billion, a P/E ratio of 13.89 and a beta of 1.54. The firm’s fifty day moving average price is $18.94 and its 200-day moving average price is $20.63.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings results on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $191.18 million. During the same quarter last year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts expect that ACM Research will post 0.92 earnings per share for the current fiscal year.

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.