Gratia Capital LLC Takes Position in Shimmick Corporation $SHIM

Gratia Capital LLC purchased a new stake in shares of Shimmick Corporation (NASDAQ:SHIM) in the 2nd quarter, Holdings Channel reports. The fund purchased 726,936 shares of the company’s stock, valued at approximately $3,322,000. Shimmick comprises approximately 2.0% of Gratia Capital LLC’s holdings, making the stock its 12th biggest position.

Other hedge funds also recently added to or reduced their stakes in the company. 1492 Capital Management LLC lifted its position in Shimmick by 46.0% in the 1st quarter. 1492 Capital Management LLC now owns 149,812 shares of the company’s stock valued at $550,000 after acquiring an additional 47,180 shares in the last quarter. Sei Investments Co. boosted its stake in Shimmick by 896.8% during the 1st quarter. Sei Investments Co. now owns 246,816 shares of the company’s stock valued at $906,000 after purchasing an additional 222,055 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Shimmick during the 1st quarter valued at $131,000. Walleye Capital LLC bought a new stake in shares of Shimmick in the 2nd quarter worth $578,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Shimmick in the 2nd quarter worth $53,000. 6.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Shimmick from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shimmick in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.50.

Shimmick Stock Down 7.0%

Shares of Shimmick stock opened at $3.47 on Thursday. Shimmick Corporation has a twelve month low of $1.95 and a twelve month high of $6.76. The company’s 50 day moving average is $3.84 and its 200 day moving average is $3.98. The company has a market cap of $143.45 million, a price-to-earnings ratio of -7.71 and a beta of 0.76.

Shimmick (NASDAQ:SHIM) last posted its earnings results on Monday, August 10th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $106.62 million during the quarter, compared to the consensus estimate of $121.85 million. Sell-side analysts expect that Shimmick Corporation will post -0.03 EPS for the current fiscal year.

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.