ACM Research, Inc. (NASDAQ:ACMR) Short Interest Down 8.1% in October

ACM Research, Inc. (NASDAQ:ACMR) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,550,000 shares, a decrease 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 Buying and Selling

In other news, major shareholder Science & Technology Shanghai sold 26,300 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $20.01, for a total transaction of $526,263.00. Following the completion of the sale, the insider now directly owns 3,403,906 shares of the company’s stock, valued at $68,112,159.06. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Xiao Xing sold 90,396 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $21.13, for a total transaction of $1,910,067.48. Following the completion of the transaction, the director now directly owns 2,338,510 shares in the company, valued at approximately $49,412,716.30. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,116,516 shares of company stock valued at $24,573,590. 31.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in ACM Research by 2.3% in 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 during the last quarter. Millennium Management LLC lifted its position 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 valued at $21,310,000 after buying an additional 683,361 shares during the last quarter. Portolan Capital Management LLC grew its stake 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 acquiring an additional 65,616 shares during the period. Allspring Global Investments Holdings LLC increased 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 worth $9,412,000 after acquiring an additional 34,066 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake 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 during the period. 66.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

ACM Research Stock Performance

Shares of ACMR opened at $18.33 on Friday. The stock has a 50 day moving average of $18.94 and a 200 day moving average of $20.63. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 13.89 and a beta of 1.54. ACM Research has a 12 month low of $13.94 and a 12 month high of $34.40. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10.

ACM Research (NASDAQ:ACMR) last announced its 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 firm had revenue of $204.00 million during the quarter, compared to analyst estimates of $191.18 million. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The business’s revenue was up 21.0% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. As a group, sell-side analysts forecast that ACM Research will post 0.92 earnings per share for the current year.

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.