ACM Research, Inc. (NASDAQ:ACMR) Sees Large Drop in Short Interest

ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 3,490,000 shares, a drop of 16.7% from the January 15th total of 4,190,000 shares. Based on an average daily trading volume, of 1,460,000 shares, the days-to-cover ratio is currently 2.4 days.

Insider Transactions at ACM Research

In related news, insider David H. Wang sold 56,250 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $19.08, for a total value of $1,073,250.00. Following the transaction, the insider now owns 710,506 shares in the company, valued at approximately $13,556,454.48. This trade represents a 7.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sotheara Cheav sold 22,598 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $23.00, for a total value of $519,754.00. Following the completion of the transaction, the insider now owns 100,002 shares in the company, valued at $2,300,046. The trade was a 18.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,098 shares of company stock valued at $2,886,117. 31.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACM Research

Several institutional investors have recently added to or reduced their stakes in ACMR. Tower Research Capital LLC TRC increased its holdings in shares of ACM Research by 506.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,018 shares of the specialty retailer's stock valued at $30,000 after acquiring an additional 1,685 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ACM Research during the fourth quarter valued at approximately $33,000. Erste Asset Management GmbH bought a new stake in shares of ACM Research during the third quarter valued at approximately $37,000. Picton Mahoney Asset Management increased its holdings in shares of ACM Research by 66.2% during the fourth quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer's stock valued at $47,000 after acquiring an additional 1,236 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of ACM Research during the third quarter valued at approximately $72,000. 66.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Needham & Company LLC lowered ACM Research from a "buy" rating to a "hold" rating and set a $25.00 price objective on the stock. in a research note on Wednesday, December 4th. Craig Hallum lowered ACM Research from a "buy" rating to a "hold" rating and cut their price objective for the stock from $30.00 to $18.00 in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.00.

ACM Research Trading Up 1.4 %

ACMR traded up $0.33 during trading on Tuesday, hitting $24.11. The company's stock had a trading volume of 571,936 shares, compared to its average volume of 1,355,550. ACM Research has a twelve month low of $13.87 and a twelve month high of $34.40. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. The stock's fifty day moving average price is $17.77 and its 200-day moving average price is $18.19. The firm has a market capitalization of $1.39 billion, a P/E ratio of 18.24 and a beta of 1.58.

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.