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 March. As of March 31st, there was short interest totalling 3,620,000 shares, an increase of 11.4% from the March 15th total of 3,250,000 shares. Based on an average daily trading volume, of 1,780,000 shares, the days-to-cover ratio is currently 2.0 days.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other ACM Research news, Director Haiping Dun sold 19,434 shares of ACM Research stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $27.70, for a total value of $538,321.80. Following the sale, the director now owns 855,090 shares of the company’s stock, valued at approximately $23,685,993. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Haiping Dun sold 19,434 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $27.70, for a total transaction of $538,321.80. Following the completion of the sale, the director now directly owns 855,090 shares of the company’s stock, valued at approximately $23,685,993. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tracy Liu sold 12,500 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $25.20, for a total transaction of $315,000.00. Following the sale, the director now directly owns 110,772 shares of the company’s stock, valued at $2,791,454.40. The disclosure for this sale can be found here. Insiders have sold a total of 149,434 shares of company stock valued at $4,375,572 over the last quarter. 33.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACM Research

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACMR. Advisor Group Holdings Inc. increased its stake in shares of ACM Research by 166.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,500 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 937 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of ACM Research by 231.7% during the 1st quarter. JPMorgan Chase & Co. now owns 10,599 shares of the specialty retailer’s stock worth $220,000 after purchasing an additional 7,404 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of ACM Research by 212.6% during the 1st quarter. Bank of New York Mellon Corp now owns 33,000 shares of the specialty retailer’s stock worth $683,000 after purchasing an additional 22,445 shares during the last quarter. Citigroup Inc. increased its stake in shares of ACM Research by 69.9% during the 1st quarter. Citigroup Inc. now owns 7,203 shares of the specialty retailer’s stock worth $149,000 after purchasing an additional 2,963 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of ACM Research by 194.7% during the 1st quarter. BlackRock Inc. now owns 693,370 shares of the specialty retailer’s stock worth $14,346,000 after purchasing an additional 458,096 shares during the last quarter. Hedge funds and other institutional investors own 66.75% of the company’s stock.

ACM Research Stock Down 1.4 %

ACMR stock opened at $28.21 on Tuesday. ACM Research has a 12-month low of $8.75 and a 12-month high of $34.40. 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 company has a market cap of $1.58 billion, a price-to-earnings ratio of 24.11 and a beta of 1.39. The company has a 50 day moving average of $26.39 and a two-hundred day moving average of $20.94.

ACM Research (NASDAQ:ACMR) last released 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. ACM Research had a net margin of 13.87% and a return on equity of 9.23%. The company had revenue of $170.30 million during the quarter, compared to the consensus estimate of $149.54 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The company’s revenue was up 57.0% compared to the same quarter last year. On average, equities analysts anticipate that ACM Research will post 1.22 earnings per share for the current fiscal year.

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.