Shimmick Corporation (NASDAQ:SHIM) Sees Large Decline in Short Interest

Shimmick Corporation (NASDAQ:SHIM) saw a significant decline in short interest in August. As of August 31st, there was short interest totaling 45,700 shares, a decline of 43.3% from the August 15th total of 80,600 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average trading volume of 53,500 shares, the short-interest ratio is currently 0.9 days. Based on an average trading volume of 53,500 shares, the short-interest ratio is currently 0.9 days. Approximately 1.2% of the shares of the stock are short sold.

Insiders Place Their Bets

In other Shimmick news, Director Mitchell B. Goldsteen sold 9,229 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $3.32, for a total value of $30,640.28. Following the transaction, the director directly owned 21,125,079 shares in the company, valued at $70,135,262.28. This represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 238,601 shares of company stock worth $492,789. Corporate insiders own 77.00% of the company’s stock.

Hedge Funds Weigh In On Shimmick

An institutional investor recently raised its position in Shimmick stock. Sanders Morris Harris LLC increased its position in Shimmick Corporation (NASDAQ:SHIM) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 742,941 shares of the company’s stock after buying an additional 30,276 shares during the quarter. Sanders Morris Harris LLC owned 2.16% of Shimmick worth $1,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 6.94% of the company’s stock.

Shimmick Stock Down 1.1%

NASDAQ:SHIM traded down $0.04 during midday trading on Monday, hitting $3.14. The company had a trading volume of 14,454 shares, compared to its average volume of 30,899. The company has a market capitalization of $110.73 million, a PE ratio of -1.83 and a beta of 0.84. Shimmick has a 52-week low of $1.30 and a 52-week high of $3.78. The stock’s fifty day moving average price is $2.41 and its 200-day moving average price is $1.91.

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.