Short Interest in Shimmick Co. (NASDAQ:SHIM) Decreases By 30.4%

Shimmick Co. (NASDAQ:SHIM) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 82,700 shares, a drop of 30.4% from the August 15th total of 118,800 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 996,500 shares, the days-to-cover ratio is presently 0.1 days.

Shimmick Stock Performance

Shares of NASDAQ SHIM traded down $0.04 during mid-day trading on Monday, reaching $3.00. The company’s stock had a trading volume of 4,416 shares, compared to its average volume of 416,357. Shimmick has a 52 week low of $1.47 and a 52 week high of $7.99. The company has a debt-to-equity ratio of 151.25, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a fifty day moving average of $3.05 and a two-hundred day moving average of $3.35.

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

Institutional Trading of Shimmick

A number of institutional investors have recently bought and sold shares of the stock. Perritt Capital Management Inc grew its stake in shares of Shimmick by 140.7% during the second quarter. Perritt Capital Management Inc now owns 36,100 shares of the company’s stock valued at $56,000 after buying an additional 21,100 shares during the last quarter. Sanders Morris Harris LLC lifted its position in shares of Shimmick by 8.3% in the 2nd quarter. Sanders Morris Harris LLC now owns 609,892 shares of the company’s stock worth $945,000 after purchasing an additional 46,788 shares during the period. Pacific Ridge Capital Partners LLC bought a new position in shares of Shimmick during the fourth quarter valued at approximately $2,580,000. 1492 Capital Management LLC purchased a new position in Shimmick during the fourth quarter valued at approximately $1,997,000. Finally, BNP Paribas Asset Management Holding S.A. purchased a new stake in Shimmick during the fourth quarter worth $2,885,000. 6.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SHIM. Roth Mkm cut their price objective on Shimmick from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Craig Hallum decreased their target price on shares of Shimmick from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Monday, August 19th.

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.