Insider Selling: Shimmick Co. (NASDAQ:SHIM) Director Sells $1,059,500.00 in Stock

Shimmick Co. (NASDAQ:SHIM) Director Mitchell B. Goldsteen sold 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $3.26, for a total transaction of $1,059,500.00. Following the completion of the transaction, the director now directly owns 21,583,800 shares of the company’s stock, valued at approximately $70,363,188. This represents a 1.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shimmick Stock Up 8.0 %

SHIM opened at $3.12 on Friday. Shimmick Co. has a 12 month low of $1.47 and a 12 month high of $7.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 58.60. The business’s 50-day moving average price is $2.27 and its 200-day moving average price is $2.43. The company has a market cap of $105.45 million and a P/E ratio of -0.80.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Shimmick

A number of large investors have recently bought and sold shares of SHIM. State Street Corp bought a new position in shares of Shimmick in the third quarter worth approximately $36,000. E&G Advisors LP purchased a new stake in shares of Shimmick during the third quarter worth about $31,000. Perritt Capital Management Inc lifted its holdings in Shimmick by 140.7% in 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 during the period. Finally, Sanders Morris Harris LLC lifted its stake in Shimmick by 8.3% in the second quarter. Sanders Morris Harris LLC now owns 609,892 shares of the company’s stock worth $945,000 after acquiring an additional 46,788 shares during the period. 6.94% of the stock is owned by hedge funds and other 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.