Shimmick Co. (NASDAQ:SHIM) Short Interest Up 19.1% in March

Shimmick Co. (NASDAQ:SHIM) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 57,900 shares, an increase of 19.1% from the March 15th total of 48,600 shares. Based on an average daily volume of 17,200 shares, the short-interest ratio is presently 3.4 days. Currently, 1.7% of the shares of the company are short sold.

Shimmick Stock Performance

SHIM traded down $0.00 during trading on Monday, hitting $1.56. The stock had a trading volume of 2,785 shares, compared to its average volume of 410,477. The company has a debt-to-equity ratio of 58.60, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $53.55 million, a price-to-earnings ratio of -0.40 and a beta of 0.84. The company has a 50 day moving average price of $1.76 and a 200-day moving average price of $2.21. Shimmick has a one year low of $1.30 and a one year high of $4.94.

Shimmick (NASDAQ:SHIM) last released its earnings results on Thursday, March 13th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.62). Shimmick had a negative net margin of 20.16% and a negative return on equity of 355.53%. The firm had revenue of $103.55 million during the quarter, compared to the consensus estimate of $118.90 million. During the same period in the prior year, the business earned ($0.59) earnings per share. As a group, research analysts predict that Shimmick will post -2.48 EPS for the current year.

Hedge Funds Weigh In On Shimmick

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp acquired a new stake in Shimmick during the 3rd quarter worth approximately $36,000. Sanders Morris Harris LLC lifted its stake in Shimmick by 20.7% in the fourth quarter. Sanders Morris Harris LLC now owns 712,665 shares of the company’s stock valued at $1,846,000 after buying an additional 122,442 shares during the period. Avanza Fonder AB acquired a new stake in Shimmick in the fourth quarter worth $52,000. Thompson Davis & CO. Inc. acquired a new position in Shimmick during the 4th quarter worth approximately $96,000. Finally, LPL Financial LLC acquired a new stake in Shimmick in the 4th quarter valued at $284,000. Institutional investors own 6.94% of the company’s stock.

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.