ACM Research, Inc. (NASDAQ:ACMR – Get Rating) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 4,980,000 shares, a decline of 5.3% from the August 31st total of 5,260,000 shares. Based on an average daily trading volume, of 857,800 shares, the short-interest ratio is presently 5.8 days.
Insider Buying and Selling at ACM Research
In other ACM Research news, Director Haiping Dun sold 36,537 shares of ACM Research stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $16.10, for a total value of $588,245.70. Following the sale, the director now directly owns 855,090 shares in the company, valued at approximately $13,766,949. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Haiping Dun sold 36,537 shares of ACM Research stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $16.10, for a total transaction of $588,245.70. Following the completion of the sale, the director now owns 855,090 shares of the company's stock, valued at approximately $13,766,949. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sotheara Cheav sold 15,000 shares of ACM Research stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $17.81, for a total transaction of $267,150.00. Following the sale, the insider now directly owns 120,002 shares of the company's stock, valued at approximately $2,137,235.62. The disclosure for this sale can be found here. Company insiders own 33.96% of the company's stock.
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Hedge Funds Weigh In On ACM Research
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System increased its position in ACM Research by 6.9% during the 2nd quarter. Arizona State Retirement System now owns 11,585 shares of the specialty retailer's stock worth $195,000 after purchasing an additional 752 shares in the last quarter. Advisor Group Holdings Inc. increased its position in ACM Research by 166.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,500 shares of the specialty retailer's stock worth $31,000 after purchasing an additional 937 shares in the last quarter. Money Concepts Capital Corp increased its position in ACM Research by 3.6% during the 2nd quarter. Money Concepts Capital Corp now owns 34,107 shares of the specialty retailer's stock worth $530,000 after purchasing an additional 1,188 shares in the last quarter. Great West Life Assurance Co. Can increased its position in ACM Research by 210.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,752 shares of the specialty retailer's stock worth $39,000 after purchasing an additional 1,188 shares in the last quarter. Finally, GSA Capital Partners LLP increased its position in ACM Research by 17.2% during the 1st quarter. GSA Capital Partners LLP now owns 12,678 shares of the specialty retailer's stock worth $262,000 after purchasing an additional 1,858 shares in the last quarter. 66.60% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Craig Hallum boosted their price objective on shares of ACM Research to $25.00 in a report on Monday, August 15th.
ACM Research Stock Performance
NASDAQ ACMR opened at $12.46 on Monday. The company has a quick ratio of 2.42, a current ratio of 3.56 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $675.10 million, a P/E ratio of 26.14 and a beta of 0.64. ACM Research has a 12-month low of $11.23 and a 12-month high of $39.71. The firm has a 50-day moving average price of $16.32 and a two-hundred day moving average price of $16.28.
ACM Research (NASDAQ:ACMR – Get Rating) last issued its earnings results on Friday, August 5th. The specialty retailer reported $0.19 EPS for the quarter, beating the consensus estimate of $0.01 by $0.18. The company had revenue of $104.40 million during the quarter, compared to analysts' expectations of $72.28 million. ACM Research had a net margin of 10.42% and a return on equity of 5.82%. The business's revenue for the quarter was up 93.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 EPS. Analysts anticipate that ACM Research will post 0.54 earnings per share for the current year.
ACM Research Company Profile
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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.
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