Shimmick (NASDAQ:SHIM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Shimmick (NASDAQ:SHIM) from a sell rating to a hold rating in a research note issued to investors on Sunday.

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

Shimmick Stock Performance

Shares of SHIM opened at $3.70 on Friday. Shimmick has a 52-week low of $1.95 and a 52-week high of $6.76. The business’s 50 day moving average price is $3.87 and its two-hundred day moving average price is $4.00. The firm has a market cap of $152.96 million, a PE ratio of -8.22 and a beta of 0.79.

Shimmick (NASDAQ:SHIM) last posted its earnings results on Monday, August 10th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $106.62 million for the quarter, compared to the consensus estimate of $121.85 million. Research analysts predict that Shimmick will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Shimmick

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in Shimmick in the second quarter valued at approximately $47,000. GSA Capital Partners LLP purchased a new stake in Shimmick in the second quarter worth $53,000. Renaissance Technologies LLC purchased a new stake in Shimmick in the first quarter worth $131,000. Bank of America Corp DE purchased a new stake in Shimmick in the second quarter worth $135,000. Finally, 1492 Capital Management LLC raised its stake 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 during the period. Hedge funds and other institutional investors own 6.94% of the company’s stock.

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.