Short Interest in Shimmick Corporation (NASDAQ:SHIM) Declines By 35.7%

Shimmick Corporation (NASDAQ:SHIM) was the target of a large decrease in short interest in January. As of January 30th, there was short interest totaling 10,564 shares, a decrease of 35.7% from the January 15th total of 16,435 shares. Based on an average daily volume of 55,357 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are sold short. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 55,357 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shimmick in a report on Monday, December 29th. Craig Hallum upgraded Shimmick from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Monday, January 5th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.00.

Institutional Trading of Shimmick

A number of hedge funds have recently bought and sold shares of the company. Sanders Morris Harris LLC boosted its stake in Shimmick by 8.1% in 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. Thompson Davis & CO. Inc. lifted its holdings in shares of Shimmick by 13.4% in the 4th 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 last quarter. Finally, Avanza Fonder AB boosted its stake in shares of Shimmick by 19.4% in the 4th 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 in the last quarter. Institutional investors own 6.94% of the company’s stock.

Shimmick Stock Performance

Shimmick stock opened at $3.88 on Friday. Shimmick has a fifty-two week low of $1.30 and a fifty-two week high of $4.47. The stock has a market cap of $138.94 million, a P/E ratio of -2.18 and a beta of 0.50. The firm’s fifty day moving average price is $3.36 and its 200-day moving average price is $2.81.

Shimmick (NASDAQ:SHIM) last released its earnings results on Thursday, November 13th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $141.92 million during the quarter, compared to the consensus estimate of $120.20 million. On average, analysts predict that Shimmick will post -2.48 earnings per share for the current year.

Shimmick Company Profile

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.