ACM Research, Inc. (NASDAQ:ACMR) Short Interest Update

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 presently 3.5 days.

Insider Activity at ACM Research

In other ACM Research news, Director Xiao Xing sold 8,304 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,430,206 shares in the company, valued at $69,255,859.14. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Science & Technology Shanghai sold 275,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $24.07, for a total value of $6,619,250.00. Following the completion of the transaction, the insider now owns 2,428,906 shares of the company’s stock, valued at approximately $58,463,767.42. This represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,116,516 shares of company stock valued at $24,573,590. 31.24% of the stock is owned by insiders.

Institutional Trading of ACM Research

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in ACM Research by 2.3% in the 3rd 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 during the period. Millennium Management LLC raised its holdings 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 acquiring an additional 683,361 shares in the last quarter. Portolan Capital Management LLC raised its holdings in ACM Research by 7.7% in the 3rd quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock valued at $18,705,000 after acquiring an additional 65,616 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in ACM Research by 9.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 408,135 shares of the specialty retailer’s stock valued at $9,412,000 after acquiring an additional 34,066 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in ACM Research by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,858 shares of the specialty retailer’s stock valued at $8,239,000 after acquiring an additional 13,879 shares in the last quarter. 66.75% of the stock is currently owned by institutional investors.

ACM Research Stock Performance

ACMR opened at $18.45 on Tuesday. The business has a fifty day simple moving average of $18.94 and a 200 day simple moving average of $20.60. The company has a market capitalization of $1.06 billion, a PE ratio of 14.23 and a beta of 1.54. ACM Research has a 1 year low of $13.94 and a 1 year high of $34.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34.

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

Analyst Upgrades and Downgrades

ACMR has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and set a $38.00 target price on shares of ACM Research in a research note on Wednesday, August 7th. Roth Mkm reduced 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of ACM Research in a research note on Tuesday, October 1st.

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.