Shimmick (NASDAQ:SHIM) Upgraded by Roth Mkm to “Buy” Rating

Shimmick (NASDAQ:SHIM) was upgraded by Roth Mkm from a “neutral” rating to a “buy” rating in a research note issued on Friday,Finviz reports. The brokerage presently has a $5.00 price objective on the stock. Roth Mkm’s price target suggests a potential upside of 67.22% from the stock’s previous close.

SHIM has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shimmick in a research report on Monday, December 29th. 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. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.50.

Shimmick Trading Up 6.8%

Shares of NASDAQ SHIM opened at $2.99 on Friday. Shimmick has a 12-month low of $1.30 and a 12-month high of $4.47. The stock’s 50 day simple moving average is $3.67 and its 200 day simple moving average is $3.01. The company has a market cap of $107.07 million, a price-to-earnings ratio of -1.68 and a beta of 0.57.

Shimmick (NASDAQ:SHIM) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The business had revenue of $100.41 million for the quarter, compared to analysts’ expectations of $110.90 million. As a group, equities analysts forecast that Shimmick will post -2.48 earnings per share for the current fiscal year.

Institutional Trading of Shimmick

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC grew its holdings in Shimmick by 8.1% during the third quarter. Sanders Morris Harris LLC now owns 809,667 shares of the company’s stock worth $2,113,000 after acquiring an additional 60,494 shares during the period. Thompson Davis & CO. Inc. grew its stake in Shimmick by 13.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 124,722 shares of the company’s stock valued at $364,000 after purchasing an additional 14,722 shares during the last quarter. Finally, Avanza Fonder AB lifted its stake in Shimmick by 19.4% during the 4th quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock valued at $70,000 after acquiring an additional 3,878 shares during the period. Hedge funds and other institutional investors own 6.94% of the company’s stock.

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. 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.