Shimmick (NASDAQ:SHIM) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Shimmick (NASDAQ:SHIM) from a sell rating to a hold rating in a report released on Sunday morning.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Shimmick in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Shimmick has a consensus rating of “Hold” and an average price target of $5.50.

Shimmick Stock Performance

Shares of SHIM stock opened at $3.71 on Friday. The company has a market cap of $153.37 million, a P/E ratio of -8.24 and a beta of 0.79. The firm has a fifty day moving average price of $3.86 and a 200 day moving average price of $4.00. Shimmick has a 12 month low of $1.95 and a 12 month high of $6.76.

Shimmick (NASDAQ:SHIM) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $106.62 million during the quarter, compared to analyst estimates of $121.85 million. On average, equities analysts forecast that Shimmick will post -0.08 EPS for the current year.

Institutional Trading of Shimmick

Institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. grew its stake in Shimmick by 896.8% during the 1st quarter. Sei Investments Co. now owns 246,816 shares of the company’s stock worth $906,000 after buying an additional 222,055 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Shimmick in the second quarter valued at approximately $1,048,000. 1492 Capital Management LLC grew its position in shares of Shimmick by 46.0% during the first quarter. 1492 Capital Management LLC now owns 149,812 shares of the company’s stock worth $550,000 after acquiring an additional 47,180 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Shimmick in the 2nd quarter valued at $578,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Shimmick in the 1st quarter valued at $131,000. 6.94% of the stock is owned by hedge funds and other institutional investors.

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.