Shimmick (NASDAQ:SHIM) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Shimmick (NASDAQ:SHIM) from a hold rating to a sell rating in a research report sent to investors on Saturday.

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

Shimmick Stock Up 5.7%

Shimmick stock opened at $4.42 on Friday. The company’s 50-day moving average price is $3.85 and its two-hundred day moving average price is $3.99. The stock has a market cap of $162.21 million, a P/E ratio of -7.62 and a beta of 0.78. Shimmick has a twelve month low of $1.77 and a twelve month high of $6.76.

Shimmick (NASDAQ:SHIM) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $88.03 million for the quarter, compared to the consensus estimate of $116.80 million. Equities analysts anticipate that Shimmick will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SHIM. 1492 Capital Management LLC raised its position in shares of Shimmick by 46.0% in the first quarter. 1492 Capital Management LLC now owns 149,812 shares of the company’s stock valued at $550,000 after buying an additional 47,180 shares in the last quarter. Sei Investments Co. grew its position in Shimmick by 896.8% during the first quarter. Sei Investments Co. now owns 246,816 shares of the company’s stock worth $906,000 after buying an additional 222,055 shares in the last quarter. Renaissance Technologies LLC bought a new position in Shimmick during the 1st quarter worth $131,000. Walleye Capital LLC bought a new position in Shimmick during the 2nd quarter worth $578,000. Finally, GSA Capital Partners LLP acquired a new position in Shimmick in the 2nd quarter valued at $53,000. 6.94% of the stock is owned by 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.