Shimmick Corporation (NASDAQ:SHIM) Short Interest Update

Shimmick Corporation (NASDAQ:SHIM) was the target of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 7,021 shares, a decline of 25.0% from the February 12th total of 9,359 shares. Based on an average daily volume of 29,472 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are short sold. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 29,472 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

SHIM has been the topic of several analyst reports. Craig Hallum raised Shimmick from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Shimmick in a research report on Monday, December 29th. Finally, Roth Mkm raised shares of Shimmick from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Friday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.50.

Institutional Trading of Shimmick

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avanza Fonder AB lifted its stake in Shimmick by 19.4% in the fourth quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock valued at $70,000 after acquiring an additional 3,878 shares during the last quarter. Thompson Davis & CO. Inc. boosted its holdings in Shimmick by 22.2% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 55,000 shares of the company’s stock valued at $94,000 after purchasing an additional 10,000 shares during the period. Finally, Sanders Morris Harris LLC grew its position 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 owned by institutional investors and hedge funds.

Shimmick Stock Down 0.8%

SHIM stock traded down $0.03 during trading on Monday, reaching $3.18. 48,469 shares of the company’s stock were exchanged, compared to its average volume of 59,910. Shimmick has a 1-year low of $1.30 and a 1-year high of $4.47. The firm has a market cap of $113.98 million, a PE ratio of -4.36 and a beta of 0.57. The company’s fifty day moving average price is $3.67 and its 200-day moving average price is $3.00.

Shimmick (NASDAQ:SHIM) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.07) 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 the consensus estimate of $110.90 million. As a group, sell-side analysts expect that Shimmick will post -2.48 earnings per share for the current fiscal year.

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.