Short Interest in Shimmick Co. (NASDAQ:SHIM) Decreases By 24.0%

Shimmick Co. (NASDAQ:SHIM) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 39,800 shares, a drop of 24.0% from the September 15th total of 52,400 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 997,800 shares, the short-interest ratio is presently 0.0 days.

Analysts Set New Price Targets

Several analysts have issued reports on SHIM shares. Roth Mkm cut their target price on Shimmick from $3.50 to $3.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Craig Hallum cut their price target on Shimmick from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Monday, August 19th.

Institutional Investors Weigh In On Shimmick

A hedge fund recently raised its stake in Shimmick stock. Sanders Morris Harris LLC lifted its stake in shares of Shimmick Co. (NASDAQ:SHIM) by 8.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 609,892 shares of the company’s stock after purchasing an additional 46,788 shares during the quarter. Sanders Morris Harris LLC owned about 1.97% of Shimmick worth $945,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 6.94% of the company’s stock.

Shimmick Trading Up 3.0 %

Shares of SHIM traded up $0.07 during trading hours on Tuesday, hitting $2.38. 655 shares of the stock traded hands, compared to its average volume of 376,241. The firm has a market capitalization of $73.52 million and a PE ratio of -1.01. Shimmick has a 1-year low of $1.47 and a 1-year high of $7.99. The business has a fifty day moving average of $2.86 and a 200-day moving average of $2.75. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 151.25.

Shimmick (NASDAQ:SHIM) last posted its earnings results on Thursday, August 15th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($1.47). Shimmick had a negative return on equity of 134.28% and a negative net margin of 12.90%. The company had revenue of $90.61 million for the quarter, compared to analysts’ expectations of $120.00 million. Analysts expect that Shimmick will post -4.06 EPS for the current year.

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.