ACM Research, Inc. (NASDAQ:ACMR – Get Free Report) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 3,700,000 shares, a drop 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 short-interest ratio is presently 2.1 days. Currently, 9.3% of the shares of the company are short sold.
Insiders Place Their Bets
In other ACM Research news, Director Chenming Hu sold 163,308 shares of the firm’s 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 transaction, the director now owns 100,002 shares in the company, valued at $3,000,060. This trade represents a 62.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David H. Wang sold 37,500 shares of ACM Research stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $27.30, for a total value of $1,023,750.00. Following the completion of the transaction, the insider now directly owns 672,708 shares of the company’s stock, valued at $18,364,928.40. This represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 396,576 shares of company stock worth $10,703,375 in the last 90 days. Company insiders own 25.00% of the company’s stock.
Institutional Investors Weigh In On ACM Research
Several hedge funds and other institutional investors have recently modified their holdings of ACMR. Cim LLC increased its stake in ACM Research by 2.8% during the 4th quarter. Cim LLC now owns 17,149 shares of the specialty retailer’s stock valued at $259,000 after purchasing an additional 475 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of 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 during the last quarter. Kendall Capital Management increased its position in shares of ACM Research by 1.4% during the first quarter. Kendall Capital Management now owns 45,240 shares of the specialty retailer’s stock worth $1,056,000 after acquiring an additional 635 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of ACM Research by 1.9% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 34,037 shares of the specialty retailer’s stock worth $794,000 after acquiring an additional 647 shares during the last quarter. Finally, Illumine Investment Management LLC raised its holdings in shares of ACM Research by 3.0% in the 1st quarter. Illumine Investment Management LLC now owns 31,262 shares of the specialty retailer’s stock worth $730,000 after acquiring an additional 923 shares during the last quarter. Institutional investors own 66.75% of the company’s stock.
ACM Research Stock Up 2.6%
Wall Street Analyst Weigh In
ACMR has been the topic of a number of recent analyst reports. Craig Hallum upgraded ACM Research from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of ACM Research in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. began coverage on shares of ACM Research in a report on Friday, February 28th. They set an “overweight” rating and a $36.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, ACM Research has an average rating of “Moderate Buy” and an average price target of $29.40.
Get Our Latest Research Report on ACM Research
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.
Recommended Stories
- Five stocks we like better than ACM Research
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Among the Market’s Most Shorted: 2 Firms With +40% Short Interest
- Trading Stocks: RSI and Why it’s Useful
- Ollie’s Q1 Earnings: The Good, the Bad, and What’s Next
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Rocket Lab Expands Into Payloads: Should You Be Paying Attention?
Receive News & Ratings for ACM Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACM Research and related companies with MarketBeat.com's FREE daily email newsletter.