Sanders Morris Harris LLC Acquires Shares of 563,104 Shimmick Co. (NASDAQ:SHIM)

Sanders Morris Harris LLC acquired a new stake in Shimmick Co. (NASDAQ:SHIMFree Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 563,104 shares of the company’s stock, valued at approximately $3,243,000. Shimmick accounts for approximately 0.6% of Sanders Morris Harris LLC’s holdings, making the stock its 23rd largest holding. Sanders Morris Harris LLC owned about 2.20% of Shimmick at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHIM. Skylands Capital LLC bought a new position in shares of Shimmick during the fourth quarter worth approximately $300,000. 1492 Capital Management LLC bought a new position in shares of Shimmick during the fourth quarter worth approximately $1,997,000. Pacific Ridge Capital Partners LLC bought a new position in shares of Shimmick during the fourth quarter worth approximately $2,580,000. Finally, BNP Paribas Asset Management Holding S.A. bought a new position in shares of Shimmick during the fourth quarter worth approximately $2,885,000. Institutional investors own 6.94% of the company’s stock.

Shimmick Price Performance

Shares of NASDAQ SHIM traded down $0.01 during mid-day trading on Friday, hitting $1.52. 11,263 shares of the stock traded hands, compared to its average volume of 82,731. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.22. Shimmick Co. has a twelve month low of $1.47 and a twelve month high of $7.99. The firm has a 50 day simple moving average of $2.48 and a two-hundred day simple moving average of $4.82.

Shimmick (NASDAQ:SHIMGet Free Report) last released its quarterly earnings data on Monday, May 13th. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.81). The company had revenue of $120.04 million during the quarter, compared to the consensus estimate of $127.20 million. Research analysts anticipate that Shimmick Co. will post -1.74 EPS for the current fiscal year.

Analysts Set New Price Targets

SHIM has been the topic of a number of recent research reports. Roth Mkm lowered Shimmick from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $9.00 to $3.50 in a research note on Tuesday, May 14th. Craig Hallum lowered Shimmick from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $10.00 to $4.00 in a research note on Tuesday, May 14th. Finally, Roth Capital lowered Shimmick from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 14th.

View Our Latest Stock Analysis on SHIM

About Shimmick

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding SHIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shimmick Co. (NASDAQ:SHIMFree Report).

Receive News & Ratings for Shimmick Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shimmick and related companies with MarketBeat.com's FREE daily email newsletter.