Shimmick Corporation (NASDAQ:SHIM) Stock Short Interest Report for September

Shimmick Corporation (NASDAQ:SHIM) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totaling 310,493 shares, a growth of 94.2% from the September 15th total of 159,885 shares. Based on an average trading volume of 193,116 shares, the short-interest ratio is currently 1.6 days. Currently, 2.0% of the company’s stock are short sold.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Shimmick from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Shimmick in a report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.50.

Shimmick Stock Performance

Shares of Shimmick stock traded down $0.12 during trading hours on Friday, hitting $2.41. The company’s stock had a trading volume of 54,025 shares, compared to its average volume of 137,471. The stock has a market cap of $99.63 million, a price-to-earnings ratio of -5.36 and a beta of 0.85. Shimmick has a twelve month low of $1.95 and a twelve month high of $6.76. The firm has a fifty day moving average of $3.47 and a 200-day moving average of $3.94.

Shimmick (NASDAQ:SHIM) last posted its earnings results 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 analyst estimates of $121.85 million. On average, sell-side analysts expect that Shimmick will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Shimmick

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new position in shares of Shimmick in the 2nd quarter valued at $47,000. GSA Capital Partners LLP purchased a new stake in shares of Shimmick during the 2nd quarter worth $53,000. AXQ Capital LP bought a new stake in Shimmick during the second quarter valued at about $69,000. Bank of America Corp DE bought a new stake in Shimmick during the second quarter valued at about $135,000. Finally, Renaissance Technologies LLC purchased a new position in Shimmick in the first quarter valued at about $131,000. 6.94% of the stock is owned by hedge funds and other institutional investors.

Shimmick Company Profile

Shimmick Corporation (NASDAQ: SHIM) is an infrastructure construction company that delivers heavy civil and specialized construction services in the United States. Its work supports essential public infrastructure, including water, transportation, environmental and energy-related projects.

Through its construction operations, Shimmick performs services such as the construction and rehabilitation of dams, reservoirs, water and wastewater treatment facilities, tunnels, bridges, highways, transit systems and marine infrastructure.