Short Interest in Shimmick Co. (NASDAQ:SHIM) Grows By 31.5%

Shimmick Co. (NASDAQ:SHIM) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 51,400 shares, a growth of 31.5% from the March 31st total of 39,100 shares. Based on an average daily trading volume, of 63,100 shares, the days-to-cover ratio is presently 0.8 days. Approximately 2.7% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Roth Mkm reduced their price target on shares of Shimmick from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, April 1st.

Institutional Investors Weigh In On Shimmick

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Skylands Capital LLC acquired a new stake in Shimmick in the 4th quarter valued at $300,000. 1492 Capital Management LLC acquired a new stake in Shimmick in the 4th quarter valued at $1,997,000. Pacific Ridge Capital Partners LLC acquired a new stake in Shimmick in the 4th quarter valued at $2,580,000. BNP Paribas Asset Management Holding S.A. acquired a new stake in Shimmick in the 4th quarter valued at $2,885,000. Finally, Sanders Morris Harris LLC acquired a new stake in Shimmick in the 1st quarter valued at $3,243,000. Institutional investors and hedge funds own 6.94% of the company’s stock.

Shimmick Price Performance

Shares of NASDAQ SHIM traded down $0.05 during midday trading on Friday, reaching $4.03. 387,257 shares of the stock were exchanged, compared to its average volume of 199,891. Shimmick has a twelve month low of $2.15 and a twelve month high of $7.99. The firm has a 50-day moving average price of $5.31. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.95 and a quick ratio of 0.95.

Shimmick (NASDAQ:SHIM) last issued its quarterly earnings data on Thursday, March 28th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.51). The firm had revenue of $138.06 million for the quarter, compared to analyst estimates of $159.50 million. Analysts expect that Shimmick will post -0.09 EPS for the current year.

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.