Short Interest in Shimmick Co. (NASDAQ:SHIM) Declines By 34.2%

Shimmick Co. (NASDAQ:SHIM) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 42,900 shares, a drop of 34.2% from the November 15th total of 65,200 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily volume of 420,500 shares, the short-interest ratio is presently 0.1 days.

Shimmick Stock Performance

SHIM traded down $0.13 during trading on Friday, reaching $2.72. 70,548 shares of the stock traded hands, compared to its average volume of 1,296,321. Shimmick has a fifty-two week low of $1.47 and a fifty-two week high of $7.99. The stock’s 50-day simple moving average is $2.31 and its two-hundred day simple moving average is $2.48. The company has a debt-to-equity ratio of 58.60, a current ratio of 0.80 and a quick ratio of 0.80.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SHIM shares. Roth Mkm decreased their target price on Shimmick from $3.50 to $3.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Craig Hallum reduced their price objective on Shimmick from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Monday, August 19th.

Insider Activity

In related news, Director Mitchell B. Goldsteen sold 325,000 shares of Shimmick stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.26, for a total transaction of $1,059,500.00. Following the transaction, the director now directly owns 21,583,800 shares of the company’s stock, valued at $70,363,188. The trade was a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 77.00% of the company’s stock.

Institutional Investors Weigh In On Shimmick

Several large investors have recently made changes to their positions in SHIM. Perritt Capital Management Inc lifted its position in shares of Shimmick by 140.7% in the second quarter. Perritt Capital Management Inc now owns 36,100 shares of the company’s stock worth $56,000 after buying an additional 21,100 shares during the last quarter. E&G Advisors LP bought a new stake in shares of Shimmick during the 3rd quarter worth $31,000. Finally, State Street Corp acquired a new position in Shimmick during the 3rd quarter worth $36,000. 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.