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

ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) was the target of a significant drop in short interest in 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 currently 3.5 days.

ACM Research Trading Down 2.1 %

ACMR stock traded down $0.40 during midday trading on Friday, reaching $18.33. 967,439 shares of the company traded hands, compared to its average volume of 1,230,954. The business has a 50 day moving average of $18.94 and a 200-day moving average of $20.63. ACM Research has a 52-week low of $13.94 and a 52-week high of $34.40. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 13.89 and a beta of 1.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37.

ACM Research (NASDAQ:ACMR - Get Free Report) last released its earnings results on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.35. The business had revenue of $204.00 million for 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 quarter last year, the firm posted $0.41 earnings per share. As a group, sell-side analysts expect that ACM Research will post 0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACMR has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $25.00 price objective on shares of ACM Research in a report on Tuesday, October 1st. Roth Mkm lowered their price objective on ACM Research from $40.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark reissued a "buy" rating and set a $38.00 target price on shares of ACM Research in a research note on Wednesday, August 7th.

Insider Buying and Selling at ACM Research

In other ACM Research news, major shareholder Science & Technology Shanghai sold 26,300 shares of ACM Research stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $20.01, for a total value of $526,263.00. Following the completion of the sale, the insider now owns 3,403,906 shares of the company's stock, valued at approximately $68,112,159.06. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Xiao Xing sold 8,304 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $69,255,859.14. This trade represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,116,516 shares of company stock valued at $24,573,590. 31.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ACM Research

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of ACM Research during the first quarter valued at $196,000. Swiss National Bank raised its stake in shares of ACM Research by 1.2% in the first quarter. Swiss National Bank now owns 87,800 shares of the specialty retailer's stock worth $2,558,000 after purchasing an additional 1,000 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of ACM Research by 4.4% during the first quarter. Russell Investments Group Ltd. now owns 300,635 shares of the specialty retailer's stock worth $8,761,000 after purchasing an additional 12,593 shares during the period. ProShare Advisors LLC boosted its position in ACM Research by 16.7% in the first quarter. ProShare Advisors LLC now owns 12,908 shares of the specialty retailer's stock valued at $376,000 after buying an additional 1,850 shares during the last quarter. Finally, M&G Plc acquired a new position in ACM Research in the 1st quarter worth approximately $7,413,000. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

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.