ACM Research, Inc. (ACMR:NSD) experienced notable growth in short interest in February, with the total number of shorted shares increasing by 5.1% from January 31st to reach 2,880,000 shares as of February 15th. With an average daily trading volume of 821,400 ACM stock shares, the days-to-cover ratio is 3.5 days.
ACM Stock Price Analysis:
ACM Research, Inc. is a company that specializes in developing, manufacturing, and selling single-wafer wet cleaning equipment. ACM stock opened at $10.69 on March 6th, 2023, with a one-year low of $5.46 and a one-year high of $27.61.
Its market cap is $581.22 million, with a PE ratio of 18.12 and a beta of 0.99. The company has a 50-day simple moving average of $10.99 and a 200-day simple moving average of $10.98.
ACM Stock-Analyst Ratings:
Several research firms have recently provided their opinion on ACM stock, with Needham & Company LLC restating a “buy” rating and increasing their price target from $12.00 to $15.00 in a report released on February 27th.
In contrast, Morgan Stanley downgraded ACM Research from “equal weight” to “underweight” and set a price objective of $10.00 on February 22nd. Benchmark reissued a “buy” rating and set a $32.00 price target on February 27th.
Finally, Jefferies Financial Group lowered their rating from “hold” to “underperform” and raised their price target from $7.00 to $8.00 on February 27th.
ACM stock has an average rating of “Hold” and a consensus target price of $13.90, according to Stock Target Advisor.
Hedge Funds & Institutional Holdings:
Institutional investors have made changes to their positions in ACMR, with BlackRock Inc. now owning 693,370 shares or 64.18% of the ACM stock.
Other institutional investors that recently made changes to their positions in ACMR include JPMorgan Chase & Co., Bank of New York Mellon Corp, Citigroup Inc., and Advisor Group Holdings Inc.
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.
The company markets and sells its products under the Ultra C brand name through direct sales force and third-party representatives. ACM Research, Inc. was incorporated in 1998 and is headquartered in Fremont, California.