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

Shimmick Co. (NASDAQ:SHIM) 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.

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:SHIM) 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

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.