Shimmick (NASDAQ:SHIM – Get Free Report) had its price target lowered by research analysts at Roth Mkm from $3.50 to $3.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Roth Mkm’s price target suggests a potential upside of 5.26% from the stock’s current price.
A number of other research firms also recently weighed in on SHIM. Craig Hallum downgraded shares of Shimmick from a “buy” rating to a “hold” rating and reduced their target price for the stock from $10.00 to $4.00 in a report on Tuesday, May 14th. Roth Capital downgraded Shimmick from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 14th.
View Our Latest Stock Report on SHIM
Shimmick Stock Down 5.0 %
Hedge Funds Weigh In On Shimmick
Hedge funds have recently added to or reduced their stakes in the company. Perritt Capital Management Inc grew its position in Shimmick by 140.7% in the 2nd quarter. Perritt Capital Management Inc now owns 36,100 shares of the company’s stock valued at $56,000 after acquiring an additional 21,100 shares during the last quarter. Skylands Capital LLC bought a new stake in Shimmick during the 4th quarter valued at $300,000. Sanders Morris Harris LLC lifted its holdings in shares of Shimmick by 8.3% in the 2nd quarter. Sanders Morris Harris LLC now owns 609,892 shares of the company’s stock worth $945,000 after buying an additional 46,788 shares during the period. 1492 Capital Management LLC bought a new position in shares of Shimmick during the 4th quarter worth $1,997,000. Finally, Pacific Ridge Capital Partners LLC purchased a new position in shares of Shimmick during the fourth quarter valued at $2,580,000. 6.94% of the stock is currently owned by institutional investors.
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.
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