Shimmick Corporation (NASDAQ:SHIM) Short Interest Update

Shimmick Corporation (NASDAQ:SHIM) was the recipient of a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 10,564 shares, a decrease of 35.7% from the January 15th total of 16,435 shares. Based on an average trading volume of 55,357 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are short sold. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 55,357 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Shimmick

A number of hedge funds and other institutional investors have recently made changes to their positions in SHIM. Thompson Davis & CO. Inc. boosted its stake in Shimmick by 13.4% in the 4th quarter. Thompson Davis & CO. Inc. now owns 124,722 shares of the company’s stock worth $364,000 after purchasing an additional 14,722 shares during the period. Avanza Fonder AB lifted its holdings in shares of Shimmick by 19.4% in the fourth quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock worth $70,000 after buying an additional 3,878 shares in the last quarter. Finally, Sanders Morris Harris LLC boosted its position in shares of Shimmick by 8.1% in the third quarter. Sanders Morris Harris LLC now owns 809,667 shares of the company’s stock valued at $2,113,000 after acquiring an additional 60,494 shares during the period. 6.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SHIM shares. Craig Hallum raised shares of Shimmick from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Shimmick in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Shimmick presently has an average rating of “Hold” and a consensus target price of $6.00.

Shimmick Trading Down 7.6%

Shares of SHIM stock opened at $3.88 on Friday. The firm’s 50 day moving average is $3.36 and its 200 day moving average is $2.81. The stock has a market capitalization of $138.94 million, a P/E ratio of -2.18 and a beta of 0.50. Shimmick has a 12 month low of $1.30 and a 12 month high of $4.47.

Shimmick (NASDAQ:SHIM) last issued its earnings results on Thursday, November 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $141.92 million for the quarter, compared to the consensus estimate of $120.20 million. On average, equities analysts predict that Shimmick will post -2.48 EPS for the current year.

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. 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.