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

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

ACM Research Price Performance

NASDAQ:ACMR opened at $19.03 on Wednesday. ACM Research has a 52 week low of $12.53 and a 52 week high of $34.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.26 and a current ratio of 2.29. The firm’s 50-day simple moving average is $17.97 and its 200 day simple moving average is $22.75. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 14.34 and a beta of 1.52.

ACM Research (NASDAQ:ACMR) last released its 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. ACM Research had a return on equity of 9.16% and a net margin of 12.26%. The company had revenue of $202.50 million for the quarter, compared to analyst estimates of $163.05 million. During the same period in the prior year, the firm posted $0.45 EPS. ACM Research’s quarterly revenue was up 40.0% on a year-over-year basis. As a group, sell-side analysts predict that ACM Research will post 0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Steamboat Capital Partners LLC bought a new position in shares of ACM Research during the first quarter valued at about $20,398,000. 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 worth $21,310,000 after buying an additional 683,361 shares in the last quarter. Prelude Capital Management LLC bought a new position in shares of ACM Research during the 4th quarter worth approximately $8,640,000. M&G Plc purchased a new position in shares of ACM Research in the 1st quarter worth approximately $7,413,000. Finally, Westend Capital Management LLC bought a new position in shares of ACM Research in the first quarter valued at approximately $4,802,000. Institutional investors and hedge funds own 66.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ACMR. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of ACM Research in a report on Tuesday. 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 research report on Thursday, August 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of ACM Research in a research report on Wednesday, August 7th.

ACM Research Company Profile

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.