ACM Research, Inc. (NASDAQ:ACMR) Short Interest Up 11.8% in October

ACM Research, Inc. (NASDAQ:ACMR) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,940,000 shares, a growth of 11.8% from the October 15th total of 2,630,000 shares. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is presently 2.3 days.

ACM Research Trading Down 1.7 %

ACMR stock opened at $17.93 on Friday. ACM Research has a 1-year low of $6.91 and a 1-year high of $21.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.32 and a quick ratio of 1.26. The company has a market capitalization of $996.66 million, a price-to-earnings ratio of 16.45 and a beta of 1.08. The business has a 50 day simple moving average of $17.19 and a two-hundred day simple moving average of $14.13.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings results on Tuesday, November 7th. The specialty retailer reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.23. ACM Research had a return on equity of 8.84% and a net margin of 14.41%. The business had revenue of $168.60 million during the quarter, compared to the consensus estimate of $168.99 million. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. Research analysts anticipate that ACM Research will post 1.12 EPS for the current fiscal year.

Insider Activity

In other news, insider Mark Mckechnie sold 30,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $18.00, for a total transaction of $540,000.00. Following the completion of the sale, the insider now owns 900 shares of the company’s stock, valued at approximately $16,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Haiping Dun sold 32,098 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $13.85, for a total value of $444,557.30. Following the completion of the sale, the director now directly owns 855,090 shares of the company’s stock, valued at approximately $11,842,996.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Mckechnie sold 30,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $18.00, for a total transaction of $540,000.00. Following the completion of the sale, the insider now directly owns 900 shares of the company’s stock, valued at $16,200. The disclosure for this sale can be found here. Insiders sold 268,348 shares of company stock valued at $4,409,957 in the last quarter. 33.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC boosted its position in shares of ACM Research by 28.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 158,056 shares of the specialty retailer’s stock valued at $2,067,000 after acquiring an additional 34,670 shares during the last quarter. AM Squared Ltd bought a new position in shares of ACM Research during the 1st quarter valued at approximately $177,000. Allspring Global Investments Holdings LLC boosted its position in shares of ACM Research by 1,088.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 24,189 shares of the specialty retailer’s stock valued at $316,000 after acquiring an additional 22,153 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of ACM Research during the 2nd quarter valued at approximately $53,000. Finally, Total Clarity Wealth Management Inc. bought a new position in shares of ACM Research during the 1st quarter valued at approximately $516,000. 59.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of ACM Research in a report on Monday, August 7th. The Goldman Sachs Group increased their target price on shares of ACM Research from $16.20 to $18.20 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Finally, Benchmark reissued a “buy” rating and issued a $32.00 target price on shares of ACM Research in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.32.

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.