Shimmick (NASDAQ:SHIM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Shimmick (NASDAQ:SHIM) to a hold rating in a research note published on Saturday.

A number of other research firms have also recently commented on SHIM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shimmick in a research report on Friday, March 27th. Roth Mkm upgraded Shimmick from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Friday, March 13th. Finally, Craig Hallum upgraded Shimmick from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Monday, January 5th. 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.com, the company has a consensus rating of “Hold” and a consensus price target of $5.50.

Shimmick Stock Performance

Shimmick stock opened at $6.67 on Friday. The stock has a market cap of $242.12 million, a PE ratio of -9.14 and a beta of 0.43. Shimmick has a one year low of $1.30 and a one year high of $6.71. The stock has a fifty day moving average of $3.89 and a 200 day moving average of $3.27.

Insider Transactions at Shimmick

In other Shimmick 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 transaction of $357,500.00. Following the completion of the sale, the director owned 20,974,873 shares of the company’s stock, valued at approximately $59,988,136.78. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 77.00% of the company’s stock.

Institutional Trading of Shimmick

Several hedge funds have recently bought and sold shares of the stock. Avanza Fonder AB grew its holdings in Shimmick by 19.4% during the fourth quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock valued at $70,000 after purchasing an additional 3,878 shares during the period. Thompson Davis & CO. Inc. boosted 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 worth $364,000 after acquiring an additional 14,722 shares during the period. Finally, 1492 Capital Management LLC boosted its stake in shares of Shimmick by 46.0% in the first quarter. 1492 Capital Management LLC now owns 149,812 shares of the company’s stock worth $550,000 after acquiring an additional 47,180 shares during the period. Institutional investors own 6.94% of the company’s stock.

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.