Short Interest in Shimmick Corporation (NASDAQ:SHIM) Declines By 20.5%

Shimmick Corporation (NASDAQ:SHIM) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 10,966 shares, a decrease of 20.5% from the December 15th total of 13,796 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 52,608 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 52,608 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Shimmick

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Avanza Fonder AB grew its stake in shares of Shimmick by 19.4% in the 4th quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock valued at $70,000 after buying an additional 3,878 shares during the period. Sanders Morris Harris LLC raised its stake in Shimmick by 0.8% during the 2nd quarter. Sanders Morris Harris LLC now owns 749,173 shares of the company’s stock worth $1,281,000 after buying an additional 6,232 shares during the period. Finally, Thompson Davis & CO. Inc. boosted its holdings in Shimmick by 22.2% in the second quarter. Thompson Davis & CO. Inc. now owns 55,000 shares of the company’s stock worth $94,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors own 6.94% of the company’s stock.

Shimmick Stock Performance

Shimmick stock opened at $3.59 on Friday. The stock has a market capitalization of $128.58 million, a price-to-earnings ratio of -2.02 and a beta of 0.54. Shimmick has a 52-week low of $1.30 and a 52-week high of $3.83. The stock’s 50 day moving average price is $2.78 and its two-hundred day moving average price is $2.57.

Shimmick (NASDAQ:SHIM) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. The company had revenue of $141.92 million during the quarter, compared to the consensus estimate of $120.20 million. On average, equities research analysts forecast that Shimmick will post -2.48 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shimmick in a research note on Monday, December 29th. Craig Hallum upgraded shares of Shimmick from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Monday, January 5th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Shimmick currently has an average rating of “Hold” and a consensus target price of $6.00.

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. It serves federal, state, and local governments. The company was formerly known as SCCI National Holdings, Inc and changed its name to Shimmick Corporation in September 2023.