ACM Research, Inc. (ACMR - Free Report) shares rallied 13.4% in the last trading session to close at $106.74. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 46.6% gain over the past four weeks.
ACM Research, which develops wet processing technology and products for the semiconductor industry, has gained on the back of hopes of a speedy economic recovery that will lead to higher demand for its products.
Recently, ACM Research provided an update on the status of the proposed initial public offering and listing of shares of its operating subsidiary ACM Research (Shanghai), Inc. on the STAR Market of the Shanghai Stock Exchange. The application for registration for the STAR Market IPO was submitted by the Shanghai Stock Exchange Commission (“SSEC”) to the China Securities Regulatory Commission on Jun 10, 2021. The STAR Market listing of ACM Shanghai’s shares remains subject to review and approval by the CSRC.
The submission of application marks a significant milestone in the company’s efforts to complete the STAR Market IPO and adds to confidence that the STAR Market IPO will be completed successfully. The STAR Market listing combined with the current listing of the company’s Class A common stock on the Nasdaq Global Market will help accelerate its pace to becoming a global player in the semiconductor equipment industry.
This company is expected to post quarterly earnings of $0.26 per share in its upcoming report, which represents a year-over-year change of -10.3%. Revenues are expected to be $51.57 million, up 32.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For ACM Research, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ACMR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
ACM Research, Inc. (ACMR - Free Report) shares rallied 13.4% in the last trading session to close at $106.74. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 46.6% gain over the past four weeks.
ACM Research, which develops wet processing technology and products for the semiconductor industry, has gained on the back of hopes of a speedy economic recovery that will lead to higher demand for its products.
Recently, ACM Research provided an update on the status of the proposed initial public offering and listing of shares of its operating subsidiary ACM Research (Shanghai), Inc. on the STAR Market of the Shanghai Stock Exchange. The application for registration for the STAR Market IPO was submitted by the Shanghai Stock Exchange Commission (“SSEC”) to the China Securities Regulatory Commission on Jun 10, 2021. The STAR Market listing of ACM Shanghai’s shares remains subject to review and approval by the CSRC.
The submission of application marks a significant milestone in the company’s efforts to complete the STAR Market IPO and adds to confidence that the STAR Market IPO will be completed successfully. The STAR Market listing combined with the current listing of the company’s Class A common stock on the Nasdaq Global Market will help accelerate its pace to becoming a global player in the semiconductor equipment industry.
This company is expected to post quarterly earnings of $0.26 per share in its upcoming report, which represents a year-over-year change of -10.3%. Revenues are expected to be $51.57 million, up 32.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For ACM Research, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ACMR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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