Shimmick Corporation (NASDAQ:SHIM) Short Interest Update

Shimmick Corporation (NASDAQ:SHIM) saw a significant increase in short interest in January. As of January 15th, there was short interest totaling 16,435 shares, an increase of 49.9% from the December 31st total of 10,966 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 55,367 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 55,367 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages have commented on SHIM. Craig Hallum raised shares of Shimmick from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shimmick in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.00.

Shimmick Price Performance

SHIM stock opened at $4.15 on Tuesday. The firm has a 50 day simple moving average of $3.10 and a two-hundred day simple moving average of $2.70. The stock has a market cap of $148.63 million, a PE ratio of -2.33 and a beta of 0.54. Shimmick has a one year low of $1.30 and a one year high of $4.15.

Shimmick (NASDAQ:SHIM) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. The company had revenue of $141.92 million for the quarter, compared to analysts’ expectations of $120.20 million. On average, research analysts expect that Shimmick will post -2.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Shimmick

A number of hedge funds have recently made changes to their positions in SHIM. Sanders Morris Harris LLC lifted its stake in 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 purchasing an additional 60,494 shares during the last quarter. Thompson Davis & CO. Inc. grew its stake in shares of Shimmick by 100.0% during the third quarter. Thompson Davis & CO. Inc. now owns 110,000 shares of the company’s stock valued at $287,000 after buying an additional 55,000 shares during the last quarter. Finally, Avanza Fonder AB increased its holdings in shares of Shimmick by 19.4% in the fourth quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock worth $70,000 after buying an additional 3,878 shares during the period. 6.94% of the stock is currently owned by institutional investors.

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. 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.