ACM Research Inc (NASDAQ:ACMR) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 270,400 shares, an increase of 34.7% from the May 30th total of 200,700 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average daily volume of 126,500 shares, the days-to-cover ratio is presently 2.1 days.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of ACM Research by 1.3% in the fourth quarter. BlackRock Inc. now owns 410,562 shares of the specialty retailer’s stock worth $4,467,000 after acquiring an additional 5,284 shares during the period. Bank of New York Mellon Corp raised its position in shares of ACM Research by 65.7% in the fourth quarter. Bank of New York Mellon Corp now owns 27,695 shares of the specialty retailer’s stock worth $301,000 after acquiring an additional 10,985 shares during the period. Geode Capital Management LLC raised its position in shares of ACM Research by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 77,179 shares of the specialty retailer’s stock worth $839,000 after acquiring an additional 3,782 shares during the period. BNP Paribas Arbitrage SA acquired a new position in shares of ACM Research in the first quarter worth about $28,000. Finally, Spark Investment Management LLC raised its position in shares of ACM Research by 40.9% in the first quarter. Spark Investment Management LLC now owns 18,600 shares of the specialty retailer’s stock worth $286,000 after acquiring an additional 5,400 shares during the period. Institutional investors and hedge funds own 10.32% of the company’s stock.
Several research firms have issued reports on ACMR. Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Craig Hallum decreased their price objective on shares of Green Dot from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, ValuEngine upgraded shares of Yara International ASA from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th.
ACMR opened at $16.51 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.17 and a debt-to-equity ratio of 0.06. ACM Research has a 52-week low of $9.02 and a 52-week high of $21.88. The stock’s 50 day simple moving average is $17.40. The stock has a market capitalization of $234.44 million, a P/E ratio of 30.02 and a beta of -0.71.
ACM Research (NASDAQ:ACMR) last released its quarterly earnings data on Tuesday, May 7th. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.12. The company had revenue of $20.48 million during the quarter, compared to the consensus estimate of $17.50 million. ACM Research had a net margin of 13.13% and a return on equity of 25.10%. As a group, equities research analysts anticipate that ACM Research will post 0.51 EPS for the current 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 of megasonic waves to deliver megasonic energy to flat and patterned wafer surfaces in a uniform manner on a microscopic level; timely energized bubble oscillation cleaning equipment for two-dimensional and three-dimensional patterned wafers at advanced process nodes; and custom-made wafer assembly and packaging equipment.
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