ACM Research, Inc. (NASDAQ:ACMR) Short Interest Update

ACM Research, Inc. (NASDAQ:ACMR) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 4,960,000 shares, an increase of 7.8% from the August 31st total of 4,600,000 shares. Based on an average daily volume of 1,240,000 shares, the short-interest ratio is presently 4.0 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Steamboat Capital Partners LLC purchased a new stake in ACM Research in the first quarter worth about $20,398,000. Millennium Management LLC grew its holdings 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 during the period. Prelude Capital Management LLC bought a new position in shares of ACM Research in the 4th quarter worth approximately $8,640,000. M&G Plc purchased a new position in shares of ACM Research in the 1st quarter valued at approximately $7,413,000. Finally, Westend Capital Management LLC bought a new stake in shares of ACM Research during the first quarter valued at approximately $4,802,000. 66.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

ACM Research Trading Down 6.3 %

ACMR stock opened at $19.03 on Wednesday. ACM Research has a one year low of $12.53 and a one year high of $34.40. The company has a market capitalization of $1.08 billion, a PE ratio of 14.34 and a beta of 1.52. The company’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.

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