Shimmick Corporation (NASDAQ:SHIM) Short Interest Update

Shimmick Corporation (NASDAQ:SHIM) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 11,113 shares, a growth of 58.3% from the February 26th total of 7,021 shares. Based on an average daily trading volume, of 65,371 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Shimmick Stock Performance

SHIM traded down $0.11 during trading on Friday, reaching $3.22. The company’s stock had a trading volume of 14,246 shares, compared to its average volume of 139,986. The company’s fifty day moving average price is $3.60 and its 200-day moving average price is $3.02. Shimmick has a 52-week low of $1.30 and a 52-week high of $4.47. The company has a market capitalization of $116.21 million, a price-to-earnings ratio of -4.41 and a beta of 0.57.

Shimmick (NASDAQ:SHIM) last issued its earnings results on Thursday, March 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $100.41 million during the quarter, compared to analyst estimates of $110.90 million. Equities analysts predict that Shimmick will post -2.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SHIM shares. Roth Mkm raised Shimmick from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Friday, March 13th. Craig Hallum upgraded shares of Shimmick from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Monday, January 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Shimmick in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.50.

Insider Buying and Selling at Shimmick

In related news, Director Mitchell B. Goldsteen sold 125,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $2.86, for a total value of $357,500.00. Following the transaction, the director owned 20,974,873 shares in the company, valued at $59,988,136.78. The trade was a 0.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 67.10% of the company’s stock.

Institutional Investors Weigh In On Shimmick

Institutional investors have recently made changes to their positions in the stock. Avanza Fonder AB grew its stake in shares of Shimmick by 19.4% during the 4th quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock worth $70,000 after purchasing an additional 3,878 shares during the period. Thompson Davis & CO. Inc. lifted its stake in shares of Shimmick by 13.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 124,722 shares of the company’s stock valued at $364,000 after purchasing an additional 14,722 shares during the period. Finally, Sanders Morris Harris LLC boosted its holdings in Shimmick by 8.1% during the third quarter. Sanders Morris Harris LLC now owns 809,667 shares of the company’s stock worth $2,113,000 after buying an additional 60,494 shares in the last quarter. 6.94% of the stock is currently owned by hedge funds and other institutional investors.

About Shimmick

Shimmick Corporation provides water and other critical infrastructure solutions in the United States. The company undertakes water and wastewater treatment infrastructure; water storage and conveyance, including dams, levees, flood control systems, pump stations, and coastal protection infrastructure; and mass transit, bridges, and military infrastructure projects. It serves federal, state, and local governments. The company was formerly known as SCCI National Holdings, Inc and changed its name to Shimmick Corporation in September 2023.