Short Interest in Shimmick Co. (NASDAQ:SHIM) Grows By 135.6%

Shimmick Co. (NASDAQ:SHIMGet Free Report) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totalling 130,500 shares, an increase of 135.6% from the July 15th total of 55,400 shares. Based on an average trading volume of 1,030,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.4% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SHIM. Craig Hallum cut shares of Shimmick from a “buy” rating to a “hold” rating and dropped their target price for the company from $10.00 to $4.00 in a research note on Tuesday, May 14th. Roth Mkm cut Shimmick from a “buy” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $3.50 in a report on Tuesday, May 14th. Finally, Roth Capital cut Shimmick from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 14th.

Get Our Latest Analysis on Shimmick

Hedge Funds Weigh In On Shimmick

Institutional investors have recently bought and sold shares of the business. Sanders Morris Harris LLC bought a new position in Shimmick during the 1st quarter worth about $3,243,000. BNP Paribas Asset Management Holding S.A. acquired a new position in Shimmick during the fourth quarter worth $2,885,000. Pacific Ridge Capital Partners LLC purchased a new position in Shimmick in the 4th quarter valued at about $2,580,000. 1492 Capital Management LLC purchased a new stake in shares of Shimmick during the fourth quarter worth $1,997,000. Finally, Skylands Capital LLC purchased a new position in Shimmick during the fourth quarter worth approximately $300,000. Institutional investors own 6.94% of the company’s stock.

Shimmick Stock Up 1.6 %

NASDAQ:SHIM traded up $0.05 during trading hours on Tuesday, reaching $3.25. 27,900 shares of the company traded hands, compared to its average volume of 470,846. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.22. Shimmick has a 1 year low of $1.47 and a 1 year high of $7.99. The business’s 50-day moving average price is $2.41 and its two-hundred day moving average price is $3.89.

Shimmick (NASDAQ:SHIMGet Free Report) last announced its quarterly earnings data on Monday, May 13th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, equities research analysts expect that Shimmick will post -1.74 EPS for the current fiscal year.

About Shimmick

(Get 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

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