ACM Research (NASDAQ:ACMR) Shares Down 6.7%

ACM Research, Inc. (NASDAQ:ACMR)’s share price was down 6.7% during mid-day trading on Tuesday . The company traded as low as $18.73 and last traded at $18.94. Approximately 473,954 shares were traded during trading, a decline of 67% from the average daily volume of 1,417,219 shares. The stock had previously closed at $20.30.

Wall Street Analyst Weigh In

ACMR has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and issued a $38.00 target price on shares of ACM Research in a research report on Wednesday, August 7th. Roth Mkm decreased their price objective on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of ACM Research in a research note on Tuesday.

ACM Research Trading Down 5.8 %

The business’s 50 day moving average price is $17.97 and its two-hundred day moving average price is $22.75. 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 company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 14.34 and a beta of 1.52.

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

Hedge Funds Weigh In On ACM Research

Several large investors have recently made changes to their positions in ACMR. Steamboat Capital Partners LLC acquired a new stake in ACM Research during the first quarter valued at approximately $20,398,000. Millennium Management LLC boosted its stake in shares of ACM Research by 283.9% during the 2nd quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock worth $21,310,000 after acquiring an additional 683,361 shares in the last quarter. Prelude Capital Management LLC acquired a new position in shares of ACM Research in the 4th quarter worth $8,640,000. M&G Plc acquired a new stake in shares of ACM Research during the first quarter worth $7,413,000. Finally, Westend Capital Management LLC purchased a new stake in shares of ACM Research during the first quarter valued at $4,802,000. Institutional investors own 66.75% of the company’s stock.

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.