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

ACM Research, Inc. (NASDAQ:ACMR) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,550,000 shares, a decrease of 8.1% from the October 15th total of 4,950,000 shares. Based on an average daily trading volume, of 1,300,000 shares, the days-to-cover ratio is currently 3.5 days.

Insider Activity at ACM Research

In related news, Director Xiao Xing sold 90,396 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $21.13, for a total value of $1,910,067.48. Following the transaction, the director now owns 2,338,510 shares in the company, valued at approximately $49,412,716.30. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Mckechnie sold 16,516 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $22.00, for a total value of $363,352.00. Following the transaction, the insider now directly owns 900 shares of the company’s stock, valued at approximately $19,800. This trade represents a 94.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,116,516 shares of company stock worth $24,573,590. 31.24% of the stock is owned by company insiders.

Institutional Trading of ACM Research

A number of hedge funds have recently bought and sold shares of ACMR. SG Americas Securities LLC purchased a new stake in shares of ACM Research in the 1st quarter valued at $196,000. Swiss National Bank boosted its position in ACM Research by 1.2% during the first quarter. Swiss National Bank now owns 87,800 shares of the specialty retailer’s stock valued at $2,558,000 after buying an additional 1,000 shares during the period. Russell Investments Group Ltd. boosted its position in ACM Research by 4.4% during the first quarter. Russell Investments Group Ltd. now owns 300,635 shares of the specialty retailer’s stock valued at $8,761,000 after buying an additional 12,593 shares during the period. ProShare Advisors LLC grew its stake in shares of ACM Research by 16.7% during the first quarter. ProShare Advisors LLC now owns 12,908 shares of the specialty retailer’s stock valued at $376,000 after buying an additional 1,850 shares during the last quarter. Finally, M&G Plc bought a new stake in shares of ACM Research in the 1st quarter valued at about $7,413,000. Institutional investors own 66.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACMR. Roth Mkm decreased their price objective on ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of ACM Research in a research report on Tuesday, October 1st. Finally, Benchmark restated 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 $18.33 on Monday. ACM Research has a fifty-two week low of $13.94 and a fifty-two week high of $34.40. The firm’s fifty day moving average price is $18.94 and its 200-day moving average price is $20.63. The stock has a market cap of $1.06 billion, a P/E ratio of 13.89 and a beta of 1.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings results on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.35. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The business had revenue of $204.00 million for the quarter, compared to the consensus estimate of $191.18 million. During the same quarter last year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts expect that ACM Research will post 0.92 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.