Short Interest in Shimmick Co. (NASDAQ:SHIM) Rises By 431.7%

Shimmick Co. (NASDAQ:SHIM) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 228,100 shares, an increase of 431.7% from the November 30th total of 42,900 shares. Based on an average daily trading volume, of 430,100 shares, the short-interest ratio is currently 0.5 days. Currently, 6.8% of the company’s shares are sold short.

Shimmick Trading Up 5.1 %

Shares of NASDAQ SHIM traded up $0.15 during midday trading on Thursday, reaching $3.12. The company had a trading volume of 90,461 shares, compared to its average volume of 412,447. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 58.60. Shimmick has a one year low of $1.47 and a one year high of $7.99. The firm’s fifty day moving average price is $2.34 and its 200-day moving average price is $2.52. The stock has a market cap of $105.45 million and a PE ratio of -0.80.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Perritt Capital Management Inc grew its position in Shimmick by 140.7% during the second quarter. Perritt Capital Management Inc now owns 36,100 shares of the company’s stock valued at $56,000 after buying an additional 21,100 shares during the period. State Street Corp purchased a new position in shares of Shimmick during the third quarter valued at approximately $36,000. Finally, E&G Advisors LP bought a new stake in Shimmick during the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 6.94% of the company’s stock.

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.