Shimmick Corporation $SHIM Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its holdings in Shimmick Corporation (NASDAQ:SHIM) by 896.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,816 shares of the company’s stock after buying an additional 222,055 shares during the quarter. Sei Investments Co. owned approximately 0.68% of Shimmick worth $906,000 at the end of the most recent quarter.

Separately, 1492 Capital Management LLC lifted its holdings in Shimmick by 46.0% during the 1st quarter. 1492 Capital Management LLC now owns 149,812 shares of the company’s stock worth $550,000 after buying an additional 47,180 shares during the last quarter. Institutional investors and hedge funds own 6.94% of the company’s stock.

Analysts Set New Price Targets

SHIM has been the subject of several analyst reports. Wall Street Zen cut Shimmick from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Shimmick in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.50.

Shimmick Price Performance

Shares of SHIM opened at $4.03 on Thursday. Shimmick Corporation has a 1-year low of $1.92 and a 1-year high of $6.76. The stock has a market cap of $147.90 million, a PE ratio of -8.96 and a beta of 0.78. The firm has a fifty day moving average price of $3.87 and a 200 day moving average price of $4.00.

Shimmick (NASDAQ:SHIM) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $106.62 million for the quarter, compared to analysts’ expectations of $121.85 million. As a group, equities analysts expect that Shimmick Corporation will post -0.08 EPS for the current fiscal 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.