Shimmick Corporation (NASDAQ:SHIM) Stock Short Interest Jumps 94.2%

Shimmick Corporation (NASDAQ:SHIM) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 310,493 shares, an increase of 94.2% from the September 15th total of 159,885 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average daily volume of 193,116 shares, the short-interest ratio is presently 1.6 days.

Shimmick Stock Down 2.7%

Shares of SHIM stock traded down $0.07 during trading on Thursday, reaching $2.53. The company’s stock had a trading volume of 136,335 shares, compared to its average volume of 137,978. The business has a fifty day moving average price of $3.50 and a 200-day moving average price of $3.94. The company has a market cap of $104.58 million, a price-to-earnings ratio of -5.62 and a beta of 0.85. Shimmick has a one year low of $1.95 and a one year high of $6.76.

Shimmick (NASDAQ:SHIM) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The business had revenue of $106.62 million for the quarter, compared to the consensus estimate of $121.85 million. Research analysts anticipate that Shimmick will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SHIM. Weiss Ratings reissued a “sell (d-)” rating on shares of Shimmick in a research note on Monday, September 21st. Wall Street Zen upgraded shares of Shimmick from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Shimmick has a consensus rating of “Hold” and a consensus price target of $5.50.

Institutional Investors Weigh In On Shimmick

Hedge funds have recently added to or reduced their stakes in the business. Gratia Capital LLC acquired a new stake in shares of Shimmick during the second quarter worth $3,322,000. AXQ Capital LP bought a new stake in shares of Shimmick in the second quarter valued at about $69,000. Cannell Capital LLC bought a new stake in shares of Shimmick in the second quarter valued at about $4,376,255. Bank of America Corp DE acquired a new position in shares of Shimmick in the second quarter valued at about $135,000. Finally, BlackRock Inc. acquired a new position in shares of Shimmick in the second quarter valued at about $1,048,000. Institutional investors and hedge funds own 6.94% of the company’s stock.

Shimmick Company Profile

Shimmick Corporation (NASDAQ: SHIM) is an infrastructure construction company that delivers heavy civil and specialized construction services in the United States. Its work supports essential public infrastructure, including water, transportation, environmental and energy-related projects.

Through its construction operations, Shimmick performs services such as the construction and rehabilitation of dams, reservoirs, water and wastewater treatment facilities, tunnels, bridges, highways, transit systems and marine infrastructure.