ACM Research, Inc. (NASDAQ:ACMR) Short Interest Down 12.3% in November

ACM Research, Inc. (NASDAQ:ACMR) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 3,990,000 shares, a drop 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.

Insider Buying and Selling at ACM Research

In related news, major shareholder Science & Technology Shanghai sold 275,000 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $24.07, for a total value of $6,619,250.00. Following the completion of the sale, the insider now directly owns 2,428,906 shares in the company, valued at $58,463,767.42. The trade was a 10.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David H. Wang sold 56,250 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $19.08, for a total transaction of $1,073,250.00. Following the transaction, the insider now directly owns 710,506 shares in the company, valued at $13,556,454.48. This represents a 7.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,244,016 shares of company stock worth $26,939,953 over the last quarter. 31.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACM Research

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake in shares of ACM Research by 39.3% in the 2nd quarter. AQR Capital Management LLC now owns 178,460 shares of the specialty retailer’s stock worth $4,115,000 after acquiring an additional 50,356 shares in the last quarter. Richard P Slaughter Associates Inc grew its position in ACM Research by 94.9% in the 3rd quarter. Richard P Slaughter Associates Inc now owns 127,810 shares of the specialty retailer’s stock worth $2,595,000 after purchasing an additional 62,247 shares in the last quarter. Millennium Management LLC increased its stake in ACM Research by 283.9% in the 2nd quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock valued at $21,310,000 after buying an additional 683,361 shares during the last quarter. Algert Global LLC lifted its position in shares of ACM Research by 530.5% during the 3rd quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock worth $3,611,000 after buying an additional 149,670 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of ACM Research in the 3rd quarter worth approximately $1,056,000. 66.75% of the stock is owned by hedge funds and other institutional investors.

ACM Research Stock Performance

Shares of ACMR stock opened at $17.19 on Monday. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $19.25 and a two-hundred day simple moving average of $20.10. ACM Research has a 12 month low of $13.94 and a 12 month high of $34.40. The firm has a market capitalization of $990.32 million, a PE ratio of 13.02 and a beta of 1.54.

ACM Research (NASDAQ:ACMR) last posted its earnings results on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share for the quarter, topping 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 company had revenue of $204.00 million for the quarter, compared to analyst estimates of $191.18 million. During the same quarter in the prior year, the business posted $0.41 EPS. The firm’s revenue was up 21.0% compared to the same quarter last year. Analysts forecast that ACM Research will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ACMR. Roth Mkm lowered their price target on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating for the company 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 target price on shares of ACM Research in a research report on Wednesday, August 7th.

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.