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

ACM Research, Inc. (NASDAQ:ACMR) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 4,550,000 shares, a drop 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 other ACM Research news, major shareholder Science & Technology Shanghai sold 275,000 shares of ACM Research stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $24.07, for a total transaction of $6,619,250.00. Following the transaction, the insider now directly owns 2,428,906 shares of the company’s stock, valued at approximately $58,463,767.42. The trade was a 10.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Xiao Xing sold 8,304 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $20.19, for a total value of $167,657.76. Following the completion of the sale, the director now directly owns 3,430,206 shares of the company’s stock, valued at approximately $69,255,859.14. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,116,516 shares of company stock worth $24,573,590 in the last quarter. 31.24% of the stock is owned by insiders.

Hedge Funds Weigh In On ACM Research

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of ACM Research by 2.3% during the third quarter. Geode Capital Management LLC now owns 1,180,741 shares of the specialty retailer’s stock valued at $23,973,000 after purchasing an additional 26,620 shares in the last quarter. Barclays PLC increased its stake in ACM Research by 63.3% in the 3rd quarter. Barclays PLC now owns 137,584 shares of the specialty retailer’s stock valued at $2,793,000 after buying an additional 53,319 shares during the last quarter. XTX Topco Ltd purchased a new stake in ACM Research in the 3rd quarter valued at about $700,000. Portolan Capital Management LLC lifted its position in shares of ACM Research by 7.7% during the 3rd quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock worth $18,705,000 after buying an additional 65,616 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of ACM Research by 2.5% in the 3rd quarter. Janus Henderson Group PLC now owns 117,125 shares of the specialty retailer’s stock worth $2,378,000 after buying an additional 2,832 shares during the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.

ACM Research Price Performance

Shares of NASDAQ:ACMR opened at $18.33 on Monday. The stock’s 50 day moving average is $18.94 and its 200-day moving average is $20.63. ACM Research has a twelve month low of $13.94 and a twelve month high of $34.40. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 13.89 and a beta of 1.54.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, topping 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 firm had revenue of $204.00 million during the quarter, compared to analyst estimates of $191.18 million. During the same period in the previous year, the company posted $0.41 EPS. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. Sell-side analysts forecast that ACM Research will post 0.92 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.