Shimmick Co. (NASDAQ:SHIM) Short Interest Down 42.8% in May

Shimmick Co. (NASDAQ:SHIMGet Free Report) was the target of a significant drop in short interest in May. As of May 31st, there was short interest totalling 87,000 shares, a drop of 42.8% from the May 15th total of 152,100 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 132,000 shares, the short-interest ratio is presently 0.7 days.

Hedge Funds Weigh In On Shimmick

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris LLC bought a new stake in shares of Shimmick during the 1st quarter worth about $3,243,000. Pacific Ridge Capital Partners LLC bought a new stake in shares of Shimmick during the fourth quarter worth approximately $2,580,000. 1492 Capital Management LLC acquired a new position in shares of Shimmick in the fourth quarter valued at approximately $1,997,000. BNP Paribas Asset Management Holding S.A. bought a new position in shares of Shimmick during the fourth quarter worth approximately $2,885,000. Finally, Skylands Capital LLC bought a new position in shares of Shimmick during the fourth quarter worth approximately $300,000. 6.94% of the stock is owned by institutional investors.

Shimmick Price Performance

Shares of Shimmick stock traded up $0.03 during trading on Friday, hitting $1.72. 14,165 shares of the stock were exchanged, compared to its average volume of 104,613. Shimmick has a 1-year low of $1.47 and a 1-year high of $7.99. The company has a fifty day moving average price of $2.69 and a 200-day moving average price of $4.98. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.22.

Shimmick (NASDAQ:SHIMGet Free Report) last released its quarterly earnings data on Monday, May 13th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.81). The firm had revenue of $120.04 million during the quarter, compared to the consensus estimate of $127.20 million. Analysts expect that Shimmick will post -1.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SHIM. Roth Capital downgraded Shimmick from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Craig Hallum downgraded Shimmick from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.00 to $4.00 in a research note on Tuesday, May 14th. Finally, Roth Mkm downgraded Shimmick from a “buy” rating to a “neutral” rating and cut their price objective for the company from $9.00 to $3.50 in a report on Tuesday, May 14th.

Get Our Latest Stock Report on SHIM

About Shimmick

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Shimmick Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shimmick and related companies with MarketBeat.com's FREE daily email newsletter.