Short Interest in ACM Research, Inc. (NASDAQ:ACMR) Drops By 18.9%

ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) was the target of a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 3,700,000 shares, a decline of 18.9% from the April 30th total of 4,560,000 shares. Based on an average daily trading volume, of 1,770,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 9.3% of the shares of the stock are short sold.

Analyst Ratings Changes

Several brokerages recently weighed in on ACMR. Needham & Company LLC reissued a "hold" rating on shares of ACM Research in a research note on Thursday, February 27th. JPMorgan Chase & Co. began coverage on ACM Research in a report on Friday, February 28th. They issued an "overweight" rating and a $36.00 price target for the company. Finally, Craig Hallum upgraded ACM Research from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.40.

Insider Transactions at ACM Research

In other news, Director Chenming Hu sold 163,308 shares of ACM Research stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the completion of the transaction, the director now owns 100,002 shares of the company's stock, valued at $3,000,060. The trade was a 62.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David H. Wang sold 60,000 shares of ACM Research stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $22.63, for a total value of $1,357,800.00. Following the transaction, the insider now directly owns 672,708 shares of the company's stock, valued at $15,223,382.04. This trade represents a 8.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 396,576 shares of company stock valued at $10,703,375 in the last 90 days. 25.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ACM Research

A number of institutional investors have recently made changes to their positions in ACMR. Barclays PLC raised its position in shares of ACM Research by 63.3% during the 3rd quarter. Barclays PLC now owns 137,584 shares of the specialty retailer's stock valued at $2,793,000 after acquiring an additional 53,319 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of ACM Research by 35.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 70,655 shares of the specialty retailer's stock worth $1,067,000 after purchasing an additional 18,617 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in ACM Research during the fourth quarter valued at about $33,000. Beacon Financial Advisory LLC boosted its stake in ACM Research by 7.1% during the fourth quarter. Beacon Financial Advisory LLC now owns 14,495 shares of the specialty retailer's stock valued at $219,000 after buying an additional 960 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in ACM Research by 0.8% during the fourth quarter. Rhumbline Advisers now owns 73,739 shares of the specialty retailer's stock valued at $1,113,000 after buying an additional 589 shares in the last quarter. 66.75% of the stock is owned by institutional investors and hedge funds.

ACM Research Stock Down 1.1%

NASDAQ ACMR traded down $0.25 on Wednesday, reaching $23.10. The company had a trading volume of 1,054,265 shares, compared to its average volume of 1,479,927. The firm has a market capitalization of $1.36 billion, a PE ratio of 17.50 and a beta of 1.57. ACM Research has a 1 year low of $13.87 and a 1 year high of $30.64. The firm has a 50-day moving average of $21.38 and a 200-day moving average of $20.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34.

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.