Shimmick Co. (NASDAQ:SHIM) Short Interest Update

Shimmick Co. (NASDAQ:SHIM) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 65,200 shares, a growth of 54.9% from the October 31st total of 42,100 shares. Approximately 2.3% of the company’s stock are short sold. Based on an average trading volume of 30,200 shares, the short-interest ratio is currently 2.2 days.

Analyst Upgrades and Downgrades

SHIM has been the subject of a number of analyst reports. Craig Hallum decreased their target price on shares of Shimmick from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Monday, August 19th. Roth Mkm reduced their price objective on Shimmick from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Monday, August 19th.

Shimmick Stock Up 8.3 %

SHIM stock traded up $0.18 during trading on Friday, hitting $2.35. 69,991 shares of the stock traded hands, compared to its average volume of 331,761. The company has a debt-to-equity ratio of 58.60, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $79.26 million and a price-to-earnings ratio of -0.60. Shimmick has a 1 year low of $1.47 and a 1 year high of $7.99. The firm’s 50 day moving average is $2.24 and its two-hundred day moving average is $2.39.

Institutional Investors Weigh In On Shimmick

A number of institutional investors have recently made changes to their positions in the company. E&G Advisors LP purchased a new stake in Shimmick during the 3rd quarter valued at $31,000. State Street Corp bought a new position in shares of Shimmick during the 3rd quarter valued at $36,000. Perritt Capital Management Inc grew its holdings in shares of Shimmick by 140.7% in the second quarter. Perritt Capital Management Inc now owns 36,100 shares of the company’s stock worth $56,000 after acquiring an additional 21,100 shares during the period. Finally, Sanders Morris Harris LLC increased its position in Shimmick by 8.3% during the second quarter. Sanders Morris Harris LLC now owns 609,892 shares of the company’s stock valued at $945,000 after acquiring an additional 46,788 shares during the last quarter. Hedge funds and other 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.