Shimmick (NASDAQ:SHIM) Earns “Sell (D-)” Rating from Weiss Ratings

Shimmick (NASDAQ:SHIM)‘s stock had its “sell (d-)” rating restated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Shimmick Trading Down 0.7%

Shares of Shimmick stock opened at $2.68 on Wednesday. The company has a 50 day moving average of $2.69 and a 200-day moving average of $2.04. Shimmick has a 1-year low of $1.30 and a 1-year high of $3.78. The company has a market cap of $94.66 million, a PE ratio of -1.57 and a beta of 0.76.

Insider Buying and Selling at Shimmick

In other news, Director Mitchell B. Goldsteen sold 9,229 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $3.32, for a total transaction of $30,640.28. Following the completion of the sale, the director owned 21,125,079 shares of the company’s stock, valued at approximately $70,135,262.28. This represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 167,615 shares of company stock worth $360,025. Corporate insiders own 67.10% of the company’s stock.

Hedge Funds Weigh In On Shimmick

An institutional investor recently raised its position in Shimmick stock. Sanders Morris Harris LLC increased its stake in shares of Shimmick Corporation (NASDAQ:SHIM) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 809,667 shares of the company’s stock after purchasing an additional 60,494 shares during the quarter. Sanders Morris Harris LLC owned approximately 2.29% of Shimmick worth $2,113,000 at the end of the most recent reporting period. 6.94% of the stock is owned by hedge funds and other institutional investors.

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.