Short Interest in Shimmick Co. (NASDAQ:SHIM) Decreases By 36.7%

Shimmick Co. (NASDAQ:SHIM) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 144,400 shares, a decrease of 36.7% from the December 15th total of 228,100 shares. Based on an average daily trading volume, of 443,900 shares, the days-to-cover ratio is presently 0.3 days. Currently, 4.3% of the shares of the company are sold short.

Insider Activity at Shimmick

In other news, Director Mitchell B. Goldsteen sold 325,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.26, for a total value of $1,059,500.00. Following the sale, the director now directly owns 21,583,800 shares of the company’s stock, valued at approximately $70,363,188. This represents a 1.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 77.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Shimmick

Several institutional investors and hedge funds have recently modified their holdings of SHIM. E&G Advisors LP bought a new stake in Shimmick during the third quarter valued at approximately $31,000. State Street Corp bought a new position in shares of Shimmick during the third quarter valued at about $36,000. Avanza Fonder AB bought a new position in Shimmick during the 4th quarter worth approximately $52,000. Finally, Sanders Morris Harris LLC increased its stake in shares of Shimmick by 20.7% in the fourth quarter. Sanders Morris Harris LLC now owns 712,665 shares of the company’s stock worth $1,846,000 after buying an additional 122,442 shares during the period. Hedge funds and other institutional investors own 6.94% of the company’s stock.

Shimmick Price Performance

Shares of SHIM traded up $0.17 during mid-day trading on Thursday, reaching $2.66. 37,621 shares of the stock traded hands, compared to its average volume of 42,312. The company has a market cap of $89.91 million, a price-to-earnings ratio of -0.68 and a beta of 0.05. Shimmick has a 1 year low of $1.47 and a 1 year high of $7.99. The firm has a fifty day moving average price of $2.55 and a 200 day moving average price of $2.63. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 58.60.

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.