Shimmick Co. (NASDAQ:SHIM) Short Interest Down 24.0% in September

Shimmick Co. (NASDAQ:SHIM) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 39,800 shares, a decrease of 24.0% from the September 15th total of 52,400 shares. Based on an average daily volume of 997,800 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Shimmick stock. Sanders Morris Harris LLC purchased a new position in Shimmick Co. (NASDAQ:SHIM) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 563,104 shares of the company’s stock, valued at approximately $3,243,000. Shimmick accounts for approximately 0.6% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 23rd biggest holding. Sanders Morris Harris LLC owned approximately 2.20% of Shimmick as of its most recent SEC filing. 6.94% of the stock is currently owned by institutional investors.

Shimmick Stock Performance

Shares of NASDAQ SHIM traded up $0.03 during trading on Friday, reaching $2.34. 20,307 shares of the company traded hands, compared to its average volume of 18,550. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 151.25. The firm has a 50 day simple moving average of $2.89 and a 200-day simple moving average of $2.81. Shimmick has a 52-week low of $1.47 and a 52-week high of $7.99. The stock has a market capitalization of $78.60 million and a PE ratio of -1.02.

Shimmick (NASDAQ:SHIM) last posted its earnings results on Thursday, August 15th. The company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($1.47). Shimmick had a negative net margin of 12.90% and a negative return on equity of 134.28%. The firm had revenue of $90.61 million during the quarter, compared to the consensus estimate of $120.00 million. Equities research analysts anticipate that Shimmick will post -4.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SHIM shares. Roth Mkm cut their price objective on shares of Shimmick from $3.50 to $3.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Craig Hallum dropped their target price 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.

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.