563,104 Shares in Shimmick Co. (NASDAQ:SHIM) Bought by Sanders Morris Harris LLC

Sanders Morris Harris LLC bought a new position in Shimmick Co. (NASDAQ:SHIM) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 563,104 shares of the company’s stock, valued at approximately $3,243,000. Shimmick accounts for about 0.6% of Sanders Morris Harris LLC’s holdings, making the stock its 23rd largest holding.

Several other hedge funds also recently bought and sold shares of the company. Skylands Capital LLC purchased a new stake in Shimmick in the 4th quarter worth $300,000. BNP Paribas Asset Management Holding S.A. purchased a new stake in Shimmick in the 4th quarter worth $2,885,000. 1492 Capital Management LLC purchased a new stake in Shimmick in the 4th quarter worth $1,997,000. Finally, Pacific Ridge Capital Partners LLC purchased a new stake in Shimmick in the 4th quarter worth $2,580,000. Institutional investors own 6.94% of the company’s stock.

Shimmick Stock Performance

Shares of NASDAQ SHIM traded down $0.01 during mid-day trading on Friday, hitting $1.52. 11,263 shares of the company’s stock traded hands, compared to its average volume of 82,731. The company’s 50-day moving average is $2.48 and its two-hundred day moving average is $4.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.22. Shimmick Co. has a 1 year low of $1.47 and a 1 year high of $7.99.

Shimmick (NASDAQ:SHIM) last announced its earnings results on Monday, May 13th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.81). The firm had revenue of $120.04 million for the quarter, compared to analysts’ expectations of $127.20 million. As a group, equities analysts anticipate that Shimmick Co. will post -1.74 EPS for the current year.

Wall Street Analysts Forecast Growth

SHIM has been the topic of several research analyst reports. Roth Capital cut shares of Shimmick from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Roth Mkm cut shares of Shimmick from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $9.00 to $3.50 in a research note on Tuesday, May 14th. Finally, Craig Hallum cut shares of Shimmick from a “buy” rating to a “hold” rating and decreased their target price for the company from $10.00 to $4.00 in a research report on Tuesday, May 14th.

About Shimmick

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.