Shimmick Corporation (NASDAQ:SHIM) Short Interest Update

Shimmick Corporation (NASDAQ:SHIM) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 13,796 shares, a drop of 54.7% from the November 30th total of 30,426 shares. Based on an average daily volume of 28,499 shares, the short-interest ratio is currently 0.5 days. Currently, 0.2% of the shares of the stock are short sold. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 28,499 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Shimmick

A hedge fund recently raised its stake in Shimmick stock. Thompson Davis & CO. Inc. lifted its stake in shares of Shimmick Corporation (NASDAQ:SHIM) by 22.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,000 shares of the company’s stock after buying an additional 10,000 shares during the period. Thompson Davis & CO. Inc. owned about 0.16% of Shimmick worth $94,000 as of its most recent SEC filing. 6.94% of the stock is owned by hedge funds and other institutional investors.

Shimmick Stock Up 11.9%

NASDAQ:SHIM opened at $3.19 on Friday. The stock’s 50-day simple moving average is $2.46 and its 200 day simple moving average is $2.40. The firm has a market capitalization of $114.25 million, a PE ratio of -1.79 and a beta of 0.63. Shimmick has a twelve month low of $1.30 and a twelve month high of $3.50.

Shimmick (NASDAQ:SHIM) last issued its earnings results on Thursday, November 13th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.03. The business had revenue of $141.92 million for the quarter, compared to analyst estimates of $120.20 million. On average, analysts anticipate that Shimmick will post -2.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Shimmick in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.