Shimmick (NASDAQ:SHIM) Issues Earnings Results, Misses Expectations By $0.02 EPS

Shimmick (NASDAQ:SHIM) posted its quarterly earnings results on Thursday. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02), FiscalAI reports. The company had revenue of $100.41 million for the quarter, compared to the consensus estimate of $110.90 million.

Shimmick Price Performance

SHIM traded down $0.18 on Thursday, hitting $2.80. The company had a trading volume of 95,433 shares, compared to its average volume of 55,151. The stock has a fifty day simple moving average of $3.67 and a 200-day simple moving average of $3.01. The firm has a market capitalization of $100.28 million, a P/E ratio of -1.57 and a beta of 0.57. Shimmick has a 52-week low of $1.30 and a 52-week high of $4.47.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SHIM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Shimmick in a report on Monday, December 29th. Craig Hallum upgraded Shimmick from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

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. It serves federal, state, and local governments. The company was formerly known as SCCI National Holdings, Inc and changed its name to Shimmick Corporation in September 2023.