Shimmick Corporation (NASDAQ:SHIM) Short Interest Update

Shimmick Corporation (NASDAQ:SHIM) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 10,966 shares, a drop of 20.5% from the December 15th total of 13,796 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 52,608 shares, the short-interest ratio is presently 0.2 days. Based on an average trading volume of 52,608 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

Shimmick Stock Performance

Shares of NASDAQ SHIM traded down $0.07 during mid-day trading on Monday, reaching $3.59. The company had a trading volume of 36,457 shares, compared to its average volume of 47,368. The stock has a market capitalization of $128.56 million, a PE ratio of -2.02 and a beta of 0.54. Shimmick has a twelve month low of $1.30 and a twelve month high of $3.83. The stock’s 50 day moving average is $2.78 and its 200-day moving average is $2.58.

Shimmick (NASDAQ:SHIM) last issued its earnings results on Thursday, November 13th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The firm had revenue of $141.92 million during the quarter, compared to analyst estimates of $120.20 million. On average, sell-side analysts anticipate that Shimmick will post -2.48 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SHIM. Craig Hallum upgraded shares of Shimmick from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Shimmick in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Avanza Fonder AB boosted its holdings in 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 purchasing an additional 3,878 shares in the last quarter. Thompson Davis & CO. Inc. boosted its stake in shares of Shimmick by 22.2% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 55,000 shares of the company’s stock worth $94,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Sanders Morris Harris LLC increased its holdings in shares of Shimmick by 0.8% during the 2nd quarter. Sanders Morris Harris LLC now owns 749,173 shares of the company’s stock valued at $1,281,000 after acquiring an additional 6,232 shares during the last quarter. Institutional investors 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.