Shimmick Corporation (NASDAQ:SHIM) Short Interest Update

Shimmick Corporation (NASDAQ:SHIM) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 10,966 shares, a decline of 20.5% from the December 15th total of 13,796 shares. Based on an average trading volume of 52,608 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are short sold. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 52,608 shares, the short-interest ratio is currently 0.2 days.

Shimmick Price Performance

Shares of NASDAQ SHIM opened at $3.59 on Friday. The company has a 50 day simple moving average of $2.78 and a 200 day simple moving average of $2.57. Shimmick has a 1 year low of $1.30 and a 1 year high of $3.83. The firm has a market cap of $128.58 million, a PE ratio of -2.02 and a beta of 0.54.

Shimmick (NASDAQ:SHIM) last posted its earnings results on Thursday, November 13th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $141.92 million for the quarter, compared to the consensus estimate of $120.20 million. As a group, research analysts anticipate that Shimmick will post -2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. grew its position in shares of Shimmick by 13.4% in the 4th quarter. Thompson Davis & CO. Inc. now owns 124,722 shares of the company’s stock valued at $364,000 after buying an additional 14,722 shares during the last quarter. Avanza Fonder AB raised its position in shares of Shimmick by 19.4% during the fourth quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock worth $70,000 after acquiring an additional 3,878 shares during the last quarter. Finally, Sanders Morris Harris LLC lifted its stake in shares of Shimmick by 8.1% in the third quarter. Sanders Morris Harris LLC now owns 809,667 shares of the company’s stock worth $2,113,000 after acquiring an additional 60,494 shares during the period. 6.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on SHIM. Craig Hallum upgraded shares of Shimmick from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Shimmick in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.00.

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. It serves federal, state, and local governments. The company was formerly known as SCCI National Holdings, Inc and changed its name to Shimmick Corporation in September 2023.