Short Interest in Shimmick Co. (NASDAQ:SHIM) Decreases By 34.2%

Shimmick Co. (NASDAQ:SHIM) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 42,900 shares, a drop of 34.2% from the November 15th total of 65,200 shares. Based on an average trading volume of 420,500 shares, the short-interest ratio is currently 0.1 days. Approximately 1.4% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

Shimmick Price Performance

Shimmick stock traded down $0.13 during midday trading on Friday, hitting $2.72. 70,548 shares of the stock were exchanged, compared to its average volume of 1,296,321. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 58.60. Shimmick has a 52 week low of $1.47 and a 52 week high of $7.99. The company has a fifty day simple moving average of $2.31 and a two-hundred day simple moving average of $2.48.

Insider Transactions at Shimmick

In other Shimmick news, Director Mitchell B. Goldsteen sold 325,000 shares of Shimmick stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.26, for a total transaction of $1,059,500.00. Following the sale, the director now owns 21,583,800 shares in the company, valued at $70,363,188. The trade was a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 77.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. E&G Advisors LP acquired a new stake in Shimmick during the 3rd quarter worth approximately $31,000. State Street Corp bought a new stake in shares of Shimmick in the third quarter worth $36,000. Finally, Perritt Capital Management Inc lifted its position in Shimmick by 140.7% during the 2nd quarter. Perritt Capital Management Inc now owns 36,100 shares of the company’s stock worth $56,000 after buying an additional 21,100 shares in the last quarter. 6.94% of the stock is currently owned by institutional investors.

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.