Shimmick Corporation (NASDAQ:SHIM) Short Interest Down 35.7% in January

Shimmick Corporation (NASDAQ:SHIM) saw a significant decline in short interest in January. As of January 30th, there was short interest totaling 10,564 shares, a decline of 35.7% from the January 15th total of 16,435 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 55,357 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 55,357 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SHIM. Craig Hallum upgraded Shimmick from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Shimmick in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Shimmick has a consensus rating of “Hold” and an average price target of $6.00.

Shimmick Trading Up 2.1%

Shares of SHIM opened at $3.96 on Friday. The firm has a market cap of $141.81 million, a PE ratio of -2.22 and a beta of 0.50. Shimmick has a 12 month low of $1.30 and a 12 month high of $4.47. The stock has a fifty day moving average price of $3.39 and a 200-day moving average price of $2.82.

Shimmick (NASDAQ:SHIM) last announced its earnings results on Thursday, November 13th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The business had revenue of $141.92 million for the quarter, compared to analysts’ expectations of $120.20 million. As a group, research analysts forecast that Shimmick will post -2.48 EPS for the current year.

Hedge Funds Weigh In On Shimmick

Several hedge funds and other institutional investors have recently modified their holdings of SHIM. Thompson Davis & CO. Inc. boosted its stake in Shimmick by 13.4% in the 4th quarter. Thompson Davis & CO. Inc. now owns 124,722 shares of the company’s stock worth $364,000 after purchasing an additional 14,722 shares in the last quarter. Avanza Fonder AB increased its stake in Shimmick by 19.4% during the 4th quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock valued at $70,000 after purchasing an additional 3,878 shares in the last quarter. Finally, Sanders Morris Harris LLC raised its holdings in shares of Shimmick by 8.1% in the third quarter. Sanders Morris Harris LLC now owns 809,667 shares of the company’s stock worth $2,113,000 after buying an additional 60,494 shares during the last quarter. 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.