Seven Eight Capital LP Purchases 65,102 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Seven Eight Capital LP increased its position in ACM Research, Inc. (NASDAQ:ACMR) by 625.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,517 shares of the specialty retailer’s stock after acquiring an additional 65,102 shares during the quarter. Seven Eight Capital LP owned about 0.13% of ACM Research worth $1,741,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACMR. Steamboat Capital Partners LLC bought a new stake in ACM Research during the 1st quarter valued at approximately $20,398,000. Prelude Capital Management LLC bought a new stake in shares of ACM Research in the fourth quarter valued at approximately $8,640,000. M&G Plc acquired a new stake in shares of ACM Research in the first quarter worth $7,413,000. Westend Capital Management LLC bought a new position in ACM Research during the first quarter worth $4,802,000. Finally, Point72 Hong Kong Ltd raised its stake in ACM Research by 16.5% during the 4th quarter. Point72 Hong Kong Ltd now owns 496,494 shares of the specialty retailer’s stock valued at $9,701,000 after purchasing an additional 70,227 shares during the last quarter. Institutional investors and hedge funds own 66.75% of the company’s stock.

ACM Research Trading Down 1.5 %

Shares of ACMR stock opened at $16.53 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.26 and a current ratio of 2.29. The firm has a fifty day moving average of $18.69 and a 200-day moving average of $23.42. ACM Research, Inc. has a 52-week low of $12.53 and a 52-week high of $34.40. The stock has a market cap of $942.00 million, a price-to-earnings ratio of 12.52 and a beta of 1.52.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.25. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The firm had revenue of $202.50 million during the quarter, compared to analysts’ expectations of $163.05 million. During the same quarter last year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. On average, equities research analysts forecast that ACM Research, Inc. will post 0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ACMR shares. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of ACM Research in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and set a $38.00 price target on shares of ACM Research in a research note on Wednesday, August 7th. Finally, Roth Mkm reduced their price objective on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.

ACM Research 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.