Shimmick Co. (NASDAQ:SHIM) Shares Sold by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC decreased its holdings in Shimmick Co. (NASDAQ:SHIM) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 384,899 shares of the company’s stock after selling 6,036 shares during the period. Pacific Ridge Capital Partners LLC owned approximately 1.50% of Shimmick worth $2,217,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Sanders Morris Harris LLC purchased a new stake in shares of Shimmick in the 1st quarter valued at approximately $3,243,000. 1492 Capital Management LLC acquired a new stake in Shimmick during the 4th quarter worth approximately $1,997,000. BNP Paribas Asset Management Holding S.A. acquired a new stake in Shimmick during the 4th quarter worth approximately $2,885,000. Finally, Skylands Capital LLC acquired a new stake in Shimmick during the 4th quarter worth approximately $300,000. Hedge funds and other institutional investors own 6.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Craig Hallum lowered shares of Shimmick from a “buy” rating to a “hold” rating and reduced their price objective for the company from $10.00 to $4.00 in a report on Tuesday, May 14th. Roth Mkm lowered shares of Shimmick from a “buy” rating to a “neutral” rating and cut their price target for the stock from $9.00 to $3.50 in a research note on Tuesday, May 14th. Finally, Roth Capital lowered shares of Shimmick from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 14th.

Shimmick Price Performance

Shimmick stock traded up $0.30 during midday trading on Friday, hitting $4.05. 4,154,740 shares of the company’s stock were exchanged, compared to its average volume of 493,447. Shimmick Co. has a 12-month low of $1.47 and a 12-month high of $7.99. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.22. The firm’s 50 day simple moving average is $1.85 and its 200 day simple moving average is $4.24.

Shimmick (NASDAQ:SHIM) last issued its quarterly earnings data on Monday, May 13th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.81). The business had revenue of $120.04 million for the quarter, compared to the consensus estimate of $127.20 million. Equities research analysts forecast that Shimmick Co. will post -1.74 earnings per share for the current fiscal year.

Shimmick 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.