Short Interest in Shimmick Corporation (NASDAQ:SHIM) Increases By 114.7%
by Mitch Edgeman · The Markets DailyShimmick Corporation (NASDAQ:SHIM – Get Free Report) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 27,277 shares, a growth of 114.7% from the May 31st total of 12,704 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 146,810 shares, the short-interest ratio is currently 0.2 days.
Shimmick Trading Down 5.3%
SHIM traded down $0.24 on Wednesday, reaching $4.33. The stock had a trading volume of 107,645 shares, compared to its average volume of 147,173. The business’s 50-day moving average price is $4.39 and its two-hundred day moving average price is $3.84. The company has a market cap of $158.91 million, a P/E ratio of -7.47 and a beta of 0.92. Shimmick has a 12-month low of $1.58 and a 12-month high of $6.76.
Shimmick (NASDAQ:SHIM – Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $88.03 million during the quarter, compared to analyst estimates of $116.80 million. As a group, analysts predict that Shimmick will post -0.08 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Shimmick in a research note on Wednesday, June 24th. Roth Mkm upgraded Shimmick from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Friday, March 13th. Finally, Wall Street Zen raised Shimmick to a “hold” rating in a report on Saturday, April 25th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Shimmick currently has an average rating of “Hold” and a consensus target price of $5.50.
Get Our Latest Report on Shimmick
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. increased its stake in Shimmick by 13.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 124,722 shares of the company’s stock worth $364,000 after buying an additional 14,722 shares in the last quarter. Avanza Fonder AB lifted its position in shares of Shimmick by 19.4% in the fourth quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock valued at $70,000 after acquiring an additional 3,878 shares in the last quarter. 1492 Capital Management LLC boosted its stake in shares of Shimmick by 46.0% in the first quarter. 1492 Capital Management LLC now owns 149,812 shares of the company’s stock worth $550,000 after acquiring an additional 47,180 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Shimmick in the first quarter worth approximately $131,000. Finally, Sei Investments Co. increased its position in shares of Shimmick by 896.8% during the first quarter. Sei Investments Co. now owns 246,816 shares of the company’s stock worth $906,000 after purchasing an additional 222,055 shares in the last quarter. 6.94% of the stock is owned by hedge funds and other institutional investors.
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.