Shimmick Co. (NASDAQ:SHIM) Sees Large Drop in Short Interest

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC acquired a new position in Shimmick in the 4th quarter valued at $2,580,000. 1492 Capital Management LLC bought a new stake in shares of Shimmick during the 4th quarter valued at $1,997,000. Sanders Morris Harris LLC bought a new stake in shares of Shimmick during the 1st quarter valued at $3,243,000. BNP Paribas Asset Management Holding S.A. bought a new stake in shares of Shimmick during the 4th quarter valued at $2,885,000. Finally, Perritt Capital Management Inc lifted its position in shares of Shimmick by 140.7% during the 2nd quarter. Perritt Capital Management Inc now owns 36,100 shares of the company’s stock valued at $56,000 after acquiring an additional 21,100 shares during the period. 6.94% of the stock is owned by institutional investors and hedge funds.

Shimmick Trading Up 6.7 %

NASDAQ SHIM traded up $0.19 on Friday, reaching $3.04. The stock had a trading volume of 8,255 shares, compared to its average volume of 42,506. 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 firm has a fifty day moving average of $3.05 and a two-hundred day moving average of $3.35. Shimmick has a 1-year low of $1.47 and a 1-year high of $7.99.

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

Analyst Upgrades and Downgrades

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

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.