Shimmick Co. (NASDAQ:SHIM) Short Interest Update

Shimmick Co. (NASDAQ:SHIM) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 42,900 shares, a decrease of 34.2% from the November 15th total of 65,200 shares. Based on an average daily trading volume, of 420,500 shares, the short-interest ratio is presently 0.1 days. Approximately 1.4% of the company’s shares are sold short.

Insider Activity at Shimmick

In related news, Director Mitchell B. Goldsteen sold 325,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $3.26, for a total value of $1,059,500.00. Following the completion of the transaction, the director now directly owns 21,583,800 shares in the company, valued at approximately $70,363,188. This represents a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 77.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. E&G Advisors LP purchased a new stake in Shimmick during the third quarter worth approximately $31,000. State Street Corp purchased a new stake in shares of Shimmick during the 3rd quarter valued at about $36,000. Finally, Perritt Capital Management Inc lifted its position in Shimmick by 140.7% during the 2nd quarter. Perritt Capital Management Inc now owns 36,100 shares of the company’s stock worth $56,000 after acquiring an additional 21,100 shares in the last quarter. Hedge funds and other institutional investors own 6.94% of the company’s stock.

Shimmick Trading Down 4.6 %

NASDAQ:SHIM traded down $0.13 on Friday, hitting $2.72. 70,548 shares of the stock were exchanged, compared to its average volume of 1,296,321. The stock has a fifty day moving average of $2.31 and a 200-day moving average of $2.48. The stock has a market cap of $91.94 million and a PE ratio of -0.69. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 58.60. Shimmick has a fifty-two week low of $1.47 and a fifty-two week high of $7.99.

Analyst Ratings Changes

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

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.