ACM Research (NASDAQ:ACMR) Shares Up 5.1%

ACM Research Inc (NASDAQ:ACMR) shot up 5.1% during trading on Friday . The stock traded as high as $15.58 and last traded at $15.42, 154,240 shares traded hands during mid-day trading. An increase of 37% from the average session volume of 112,219 shares. The stock had previously closed at $14.67.

A number of research analysts have recently commented on ACMR shares. Zacks Investment Research upgraded ACM Research from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of ACM Research in a research note on Thursday, November 7th. ValuEngine lowered shares of ACM Research from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus started coverage on shares of ACM Research in a research report on Thursday, August 22nd. They set a “buy” rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. ACM Research has a consensus rating of “Buy” and a consensus target price of $19.60.

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.91 and a quick ratio of 2.14. The company’s 50 day moving average is $13.84 and its two-hundred day moving average is $15.46. The firm has a market cap of $239.62 million, a P/E ratio of 13.46 and a beta of -0.57.

ACM Research (NASDAQ:ACMR) last released its earnings results on Wednesday, November 6th. The specialty retailer reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.31. ACM Research had a return on equity of 32.04% and a net margin of 16.61%. The business had revenue of $33.43 million for the quarter, compared to the consensus estimate of $29.70 million. Research analysts predict that ACM Research Inc will post 0.88 EPS for the current year.

Several hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN grew its holdings in shares of ACM Research by 106.1% during the 2nd quarter. Wells Fargo & Company MN now owns 9,341 shares of the specialty retailer’s stock worth $146,000 after purchasing an additional 4,808 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of ACM Research by 436.8% in the second quarter. JPMorgan Chase & Co. now owns 10,950 shares of the specialty retailer’s stock valued at $169,000 after purchasing an additional 8,910 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of ACM Research in the second quarter valued at $134,000. Allianz Asset Management GmbH bought a new position in ACM Research in the second quarter worth $631,000. Finally, Renaissance Technologies LLC bought a new position in ACM Research in the second quarter worth $787,000. Institutional investors own 17.97% of the company’s stock.

About ACM Research (NASDAQ:ACMR)

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 of megasonic waves to deliver megasonic energy to flat and patterned wafer surfaces in a uniform manner on a microscopic level; timely energized bubble oscillation cleaning equipment for two-dimensional and three-dimensional patterned wafers at advanced process nodes; and custom-made wafer assembly and packaging equipment.

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