Shimmick’s (NASDAQ:SHIM – Get Free Report) lock-up period is set to end on Monday, May 13th. Shimmick had issued 3,575,000 shares in its IPO on November 14th. The total size of the offering was $25,025,000 based on an initial share price of $7.00. After the end of Shimmick’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Analysts Set New Price Targets
Separately, Roth Mkm dropped their target price on Shimmick from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, April 1st.
Check Out Our Latest Stock Report on Shimmick
Shimmick Stock Performance
Shimmick (NASDAQ:SHIM – Get Free Report) last issued its earnings results on Thursday, March 28th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.51). The firm had revenue of $138.06 million for the quarter, compared to the consensus estimate of $159.50 million. Equities analysts forecast that Shimmick will post -0.09 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Shimmick
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Skylands Capital LLC bought a new stake in Shimmick in the 4th quarter valued at $300,000. 1492 Capital Management LLC bought a new stake in shares of Shimmick in the fourth quarter valued at about $1,997,000. Pacific Ridge Capital Partners LLC acquired a new position in shares of Shimmick in the fourth quarter valued at about $2,580,000. BNP Paribas Asset Management Holding S.A. bought a new position in Shimmick during the fourth quarter worth about $2,885,000. Finally, Sanders Morris Harris LLC acquired a new stake in Shimmick in the 1st quarter worth about $3,243,000. 6.94% of the stock is 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.
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