Shimmick (NASDAQ:SHIM) Stock Rating Lowered by Wall Street Zen

Shimmick (NASDAQ:SHIM) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Shimmick in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.50.

Shimmick Stock Performance

SHIM opened at $4.42 on Friday. The company has a fifty day moving average price of $3.85 and a two-hundred day moving average price of $3.99. Shimmick has a 1-year low of $1.77 and a 1-year high of $6.76. The company has a market cap of $162.21 million, a P/E ratio of -7.62 and a beta of 0.79.

Shimmick (NASDAQ:SHIM) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $88.03 million for the quarter, compared to the consensus estimate of $116.80 million. On average, research analysts forecast that Shimmick will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SHIM. BlackRock Inc. acquired a new position in shares of Shimmick during the second quarter valued at about $1,048,000. Sei Investments Co. raised its holdings in shares of Shimmick by 896.8% in the 1st quarter. Sei Investments Co. now owns 246,816 shares of the company’s stock worth $906,000 after acquiring an additional 222,055 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Shimmick in the 2nd quarter worth about $578,000. 1492 Capital Management LLC lifted its position in Shimmick by 46.0% in the 1st quarter. 1492 Capital Management LLC now owns 149,812 shares of the company’s stock valued at $550,000 after acquiring an additional 47,180 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Shimmick in the 1st quarter valued at about $131,000. Institutional investors and hedge funds 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. 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.