Shimmick Co. (NASDAQ:SHIM) Short Interest Update

Shimmick Co. (NASDAQ:SHIM) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 39,800 shares, a drop of 24.0% from the September 15th total of 52,400 shares. Based on an average daily trading volume, of 997,800 shares, the days-to-cover ratio is currently 0.0 days. Approximately 1.4% of the company’s shares are sold short.

Shimmick Stock Up 3.0 %

NASDAQ:SHIM traded up $0.07 on Tuesday, hitting $2.38. The stock had a trading volume of 655 shares, compared to its average volume of 376,241. The firm’s fifty day simple moving average is $2.86 and its two-hundred day simple moving average is $2.75. The company has a debt-to-equity ratio of 151.25, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $73.52 million and a P/E ratio of -1.01. Shimmick has a 1 year low of $1.47 and a 1 year high of $7.99.

Shimmick (NASDAQ:SHIM) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $90.61 million for the quarter, compared to the consensus estimate of $120.00 million. Analysts predict that Shimmick will post -4.06 earnings per share for the current year.

Analysts Set New Price Targets

SHIM has been the topic of a number of analyst reports. Craig Hallum reduced their price target on Shimmick from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Monday, August 19th. Roth Mkm dropped their price target on Shimmick from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th.

Institutional Trading of Shimmick

An institutional investor recently raised its position in Shimmick stock. Perritt Capital Management Inc increased its position in Shimmick Co. (NASDAQ:SHIM) by 140.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,100 shares of the company’s stock after purchasing an additional 21,100 shares during the quarter. Perritt Capital Management Inc owned approximately 0.12% of Shimmick worth $56,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds 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.