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

ACM Research, Inc. (NASDAQ:ACMR) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 4,060,000 shares, an increase of 12.2% from the March 31st total of 3,620,000 shares. Based on an average daily volume of 1,720,000 shares, the days-to-cover ratio is currently 2.4 days.

ACM Research Price Performance

ACMR stock opened at $25.52 on Wednesday. The company has a market capitalization of $1.43 billion, a PE ratio of 21.81 and a beta of 1.39. The company has a quick ratio of 1.26, a current ratio of 2.35 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average is $28.29 and its two-hundred day moving average is $21.60. ACM Research has a 52-week low of $8.75 and a 52-week high of $34.40.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Wednesday, February 28th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.27. The firm had revenue of $170.30 million for the quarter, compared to analysts’ expectations of $149.54 million. ACM Research had a net margin of 13.87% and a return on equity of 9.23%. ACM Research’s revenue was up 57.0% on a year-over-year basis. During the same quarter last year, the company posted $0.15 earnings per share. Analysts predict that ACM Research will post 1.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Roth Mkm raised their price target on shares of ACM Research from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. The Goldman Sachs Group raised shares of ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, February 29th. Benchmark boosted their target price on shares of ACM Research from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Needham & Company LLC raised their price target on shares of ACM Research from $24.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ACM Research has an average rating of “Buy” and a consensus target price of $31.88.

Insiders Place Their Bets

In other news, insider Sotheara Cheav sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $29.09, for a total value of $145,450.00. Following the completion of the transaction, the insider now owns 105,002 shares in the company, valued at $3,054,508.18. The sale was disclosed in a document filed with the SEC, which is available at this link. In other ACM Research news, Director Haiping Dun sold 15,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.36, for a total transaction of $455,400.00. Following the sale, the director now owns 874,524 shares in the company, valued at approximately $26,550,548.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sotheara Cheav sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $29.09, for a total value of $145,450.00. Following the completion of the transaction, the insider now directly owns 105,002 shares of the company’s stock, valued at $3,054,508.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 149,434 shares of company stock worth $4,375,572. 33.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACM Research

Several institutional investors have recently bought and sold shares of ACMR. SG Americas Securities LLC acquired a new stake in ACM Research in the third quarter worth about $473,000. Raymond James Financial Services Advisors Inc. bought a new stake in ACM Research in the third quarter worth about $704,000. Bank of New York Mellon Corp raised its position in ACM Research by 18.3% in the third quarter. Bank of New York Mellon Corp now owns 190,205 shares of the specialty retailer’s stock worth $3,444,000 after acquiring an additional 29,360 shares in the last quarter. Total Clarity Wealth Management Inc. raised its position in ACM Research by 7.8% in the third quarter. Total Clarity Wealth Management Inc. now owns 44,750 shares of the specialty retailer’s stock worth $810,000 after acquiring an additional 3,250 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in ACM Research by 32.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,727 shares of the specialty retailer’s stock worth $230,000 after acquiring an additional 3,113 shares in the last quarter. Institutional investors and hedge funds own 66.75% of the company’s stock.

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.