Shimmick Co. (NASDAQ:SHIM) Short Interest Update

Shimmick Co. (NASDAQ:SHIM) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 65,200 shares, a growth of 54.9% from the October 31st total of 42,100 shares. Based on an average daily volume of 30,200 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.3% of the shares of the company are short sold.

Shimmick Price Performance

Shares of NASDAQ SHIM traded up $0.19 during mid-day trading on Friday, reaching $2.35. 69,991 shares of the company traded hands, compared to its average volume of 331,761. Shimmick has a fifty-two week low of $1.47 and a fifty-two week high of $7.99. The company has a debt-to-equity ratio of 58.60, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $79.43 million and a PE ratio of -0.61. The stock has a fifty day simple moving average of $2.25 and a 200-day simple moving average of $2.40.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SHIM. E&G Advisors LP acquired a new position in Shimmick in the third quarter worth approximately $31,000. State Street Corp acquired a new position in Shimmick in the third quarter worth approximately $36,000. Perritt Capital Management Inc grew its position in Shimmick by 140.7% in the second quarter. Perritt Capital Management Inc now owns 36,100 shares of the company’s stock worth $56,000 after buying an additional 21,100 shares during the last quarter. Finally, Sanders Morris Harris LLC grew its position in Shimmick by 8.3% in the second 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 last quarter. Institutional investors and hedge funds own 6.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Roth Mkm dropped 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. Craig Hallum dropped their price target on shares of Shimmick from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Monday, August 19th.

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.