Shimmick (NASDAQ:SHIM) Issues Quarterly Earnings Results

Shimmick (NASDAQ:SHIM) posted its earnings results on Thursday. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03, FiscalAI reports. The business had revenue of $141.92 million during the quarter, compared to analysts’ expectations of $120.20 million.

Shimmick Price Performance

Shares of SHIM stock traded up $0.30 during trading hours on Thursday, reaching $2.52. 109,974 shares of the stock were exchanged, compared to its average volume of 28,753. The business’s fifty day moving average is $2.61 and its two-hundred day moving average is $2.18. The firm has a market capitalization of $89.01 million, a P/E ratio of -1.47 and a beta of 0.74. Shimmick has a 12-month low of $1.30 and a 12-month high of $3.78.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Shimmick in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Shimmick currently has a consensus rating of “Sell”.

Insider Buying and Selling

In other Shimmick news, Director Mitchell B. Goldsteen sold 30,805 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $2.23, for a total value of $68,695.15. Following the sale, the director directly owned 21,134,308 shares of the company’s stock, valued at approximately $47,129,506.84. This represents a 0.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 67.10% of the stock is owned by company insiders.

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.