Today’s big question for investors is, “what’s going on with ACM Research, Inc. (NASDAQ:ACMR) stock? Its price is jumping 0.95 points, trading at $18.13 levels, and is up 5.53% from its previous close of $17.18. The shares seem to have an active trading volume day with a reported 139377 contracts so far this session. ACMR shares had a relatively better volume day versus average trading capacity of 122.39 thousand shares, but with a 8.3 million float and a 7.38% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ACMR stock indicates that the average analyst price target is $23.33 per share. This means the stock has a potential increase of 28.68% from where the ACMR share price has been trading recently which is between $16.92 and $17.8399. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $22.
The shorts are running away from ACM Research, Inc. (ACMR) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a drop in short interest in ACMR shares. While short interest still represents only 1.38% of ACMR’s float, the number of shares shorted have fallen by -6957. The number of shares shorted fell to 107807 shares, down from 114764 shares during the preceding fortnight. With average daily trading volumes at 97941 shares, days to cover decreased to about 1.370055 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “ACM Research, Inc (ACMR) Q2 2019 Earnings Call Transcript” and dated August 09, 2019.
During the recent trading session for ACM Research, Inc. (NASDAQ:ACMR), the company witnessed their stock rise $2.34 over a week and surge $1.54 from the price 20 days ago. When compared to their established 52-week high of $21.88, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/15/19. The recent low of $9.02 stood for a -17.14% since 02/12/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for ACM Research, Inc., the two-week RSI stands at 56.83. This figure suggests that ACMR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ACMR readings is similarly very revealing as it has a stochastic reading of 75.75% at this stage. This figure means that ACMR share price today is being oversold.
Technical chart claims that ACM Research, Inc. (ACMR) would settle between $17.71/share to $18.23/share level. However, if the stock price goes below the $16.79 mark, then the market for ACM Research, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $16.39 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at The Benchmark Company, assumed coverage of ACMR assigning Buy rating, according to their opinion released on December 13. ROTH Capital, analysts launched coverage of ACM Research, Inc. (NASDAQ:ACMR) stock with a Buy recommendation, according to their flash note issued to investors on November 29.
ACMR equity has an average rating of 1.67, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated ACM Research, Inc. (NASDAQ:ACMR) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ACMR stock price is currently trading at 19.03X forward 12-month Consensus EPS estimates, and its P/S ratio is 3.4 while for the average stock in the same group, the multiple is 3.06. ACM Research, Inc. current P/E ratio of 29.27 means it is trading at a premium against its industry’s 16.76. In the past 5 years, this ratio for the stock has been fluctuating between 0 and 0.
ACM Research, Inc. (ACMR)’s current-quarter revenues are projected to climb by nearly 25.11% to hit $29 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 37.32% from $74.64 million to a noteworthy $102500. At the other end of the current quarter income statement, ACM Research, Inc. is expected to see its adjusted earnings surge by roughly -4.35% to hit $0.22 per share. For the fiscal year, ACMR’s earnings are projected to climb by roughly 0% to hit $0.55 per share.