Shimmick (NASDAQ:SHIM) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Shimmick (NASDAQ:SHIM) issued its quarterly earnings results on Monday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01, FiscalAI reports. The firm had revenue of $106.62 million for the quarter, compared to the consensus estimate of $121.85 million.

Shimmick Trading Down 5.0%

NASDAQ:SHIM traded down $0.22 during mid-day trading on Monday, hitting $4.20. The company’s stock had a trading volume of 71,572 shares, compared to its average volume of 132,300. The company has a market capitalization of $154.14 million, a price-to-earnings ratio of -7.24 and a beta of 0.79. Shimmick has a fifty-two week low of $1.83 and a fifty-two week high of $6.76. The stock has a fifty day moving average of $3.85 and a 200-day moving average of $3.99.

Analyst Ratings Changes

Several brokerages have recently weighed in on SHIM. Weiss Ratings reissued a “sell (d-)” rating on shares of Shimmick in a report on Wednesday, June 24th. Wall Street Zen lowered Shimmick from a “hold” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Shimmick has an average rating of “Hold” and an average price target of $5.50.

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.