Sei Investments Co. Increases Stock Position in Shimmick Corporation $SHIM

Sei Investments Co. increased its holdings in Shimmick Corporation (NASDAQ:SHIM) by 896.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 246,816 shares of the company’s stock after acquiring an additional 222,055 shares during the quarter. Sei Investments Co.’s holdings in Shimmick were worth $906,000 at the end of the most recent quarter.

Separately, 1492 Capital Management LLC boosted its stake in Shimmick by 46.0% during the 1st quarter. 1492 Capital Management LLC now owns 149,812 shares of the company’s stock worth $550,000 after purchasing an additional 47,180 shares during the period. Hedge funds and other institutional investors own 6.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on SHIM. Wall Street Zen lowered shares of Shimmick from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shimmick in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Shimmick presently has a consensus rating of “Hold” and a consensus price target of $5.50.

Shimmick Price Performance

Shimmick stock opened at $4.03 on Thursday. Shimmick Corporation has a 12 month low of $1.92 and a 12 month high of $6.76. The business has a 50 day simple moving average of $3.87 and a 200-day simple moving average of $4.00. The stock has a market capitalization of $147.90 million, a PE ratio of -8.96 and a beta of 0.78.

Shimmick (NASDAQ:SHIM) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $106.62 million for the quarter, compared to analyst estimates of $121.85 million. As a group, equities research analysts anticipate that Shimmick Corporation will post -0.08 EPS for the current year.

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.