ACM Research, Inc. (NASDAQ:ACMR) Sees Significant Drop in Short Interest

ACM Research, Inc. (NASDAQ:ACMR) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 3,990,000 shares, a decline of 12.3% from the October 31st total of 4,550,000 shares. Based on an average trading volume of 1,310,000 shares, the days-to-cover ratio is presently 3.0 days.

Analysts Set New Price Targets

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

ACM Research Stock Performance

ACM Research stock opened at $15.66 on Tuesday. The company has a market cap of $902.11 million, a PE ratio of 11.86 and a beta of 1.54. 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 1 year low of $13.94 and a 1 year high of $34.40. The company’s 50-day moving average is $19.23 and its two-hundred day moving average is $20.03.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.35. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The firm had revenue of $204.00 million for the quarter, compared to analysts’ expectations of $191.18 million. During the same period last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities analysts anticipate that ACM Research will post 1.12 earnings per share for the current year.

Insider Transactions at ACM Research

In other ACM Research news, insider David H. Wang sold 56,250 shares of ACM Research stock in a transaction on Tuesday, November 26th. The stock was 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 approximately $11,704,639.84. The trade was a 7.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Xiao Xing sold 8,304 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total value of $167,657.76. Following the sale, the director now owns 3,430,206 shares in the company, valued at $69,255,859.14. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,244,016 shares of company stock valued at $26,939,953 in the last three months. 31.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACM Research

A number of institutional investors have recently made changes to their positions in the stock. Erste Asset Management GmbH acquired a new position in ACM Research in the third quarter valued at about $37,000. CWM LLC raised its position in shares of ACM Research by 297.1% in the 2nd quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 1,444 shares during the period. Picton Mahoney Asset Management bought a new position in ACM Research during the 2nd quarter worth approximately $59,000. Truvestments Capital LLC acquired a new position in ACM Research during the third quarter valued at approximately $72,000. Finally, Lazard Asset Management LLC grew its holdings in ACM Research by 1,197.6% during the first quarter. Lazard Asset Management LLC now owns 3,218 shares of the specialty retailer’s stock valued at $93,000 after purchasing an additional 2,970 shares during the period. 66.75% of the stock is owned by institutional investors and hedge funds.

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.