Shimmick Co. (NASDAQ:SHIM) Short Interest Down 30.4% in August

Shimmick Co. (NASDAQ:SHIM) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 82,700 shares, a decrease of 30.4% from the August 15th total of 118,800 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 996,500 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

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

Shimmick Stock Down 3.3 %

Shimmick stock traded down $0.10 during midday trading on Monday, reaching $2.94. The stock had a trading volume of 4,107 shares, compared to its average volume of 416,356. The company has a fifty day moving average price of $3.05 and a two-hundred day moving average price of $3.35. The company has a debt-to-equity ratio of 151.25, a quick ratio of 0.79 and a current ratio of 0.79. Shimmick has a 12 month low of $1.47 and a 12 month high of $7.99.

Shimmick (NASDAQ:SHIM) last posted its quarterly 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). The business had revenue of $90.61 million during the quarter, compared to analyst estimates of $120.00 million. Shimmick had a negative net margin of 12.90% and a negative return on equity of 134.28%. As a group, equities research analysts expect that Shimmick will post -4.06 EPS for the current year.

Institutional Trading of Shimmick

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perritt Capital Management Inc grew its holdings in Shimmick by 140.7% during the second 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. Sanders Morris Harris LLC grew its stake 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 acquiring an additional 46,788 shares in the last quarter. 1492 Capital Management LLC purchased a new stake in shares of Shimmick in the fourth quarter valued at about $1,997,000. Pacific Ridge Capital Partners LLC bought a new position in shares of Shimmick during the fourth quarter valued at about $2,580,000. Finally, BNP Paribas Asset Management Holding S.A. purchased a new position in Shimmick during the fourth quarter worth about $2,885,000. 6.94% of the stock is owned by 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.