Shimmick Co. (NASDAQ:SHIM) Short Interest Down 30.4% in August

Shimmick Co. (NASDAQ:SHIM) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 82,700 shares, a decrease of 30.4% from the August 15th total of 118,800 shares. Based on an average daily volume of 996,500 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.3% of the shares of the company are sold short.

Shimmick Price Performance

Shares of SHIM stock traded down $0.10 during trading on Monday, reaching $2.94. 4,107 shares of the company’s stock traded hands, compared to its average volume of 416,356. The firm’s 50-day moving average is $3.05 and its 200 day moving average is $3.35. Shimmick has a 1 year low of $1.47 and a 1 year high of $7.99. The company has a debt-to-equity ratio of 151.25, a quick ratio of 0.79 and a current ratio of 0.79.

Shimmick (NASDAQ:SHIM) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($1.47). The company had revenue of $90.61 million during the quarter, compared to analysts’ expectations of $120.00 million. Shimmick had a negative net margin of 12.90% and a negative return on equity of 134.28%. As a group, sell-side analysts expect that Shimmick will post -4.06 earnings per share for the current year.

Wall Street Analyst Weigh In

SHIM has been the subject of several research analyst reports. Roth Mkm decreased their price target on shares of Shimmick from $3.50 to $3.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Craig Hallum dropped their price target on Shimmick from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Monday, August 19th.

Hedge Funds Weigh In On Shimmick

Several hedge funds have recently bought and sold shares of SHIM. Perritt Capital Management Inc grew its position in Shimmick by 140.7% during the second quarter. Perritt Capital Management Inc now owns 36,100 shares of the company’s stock worth $56,000 after buying an additional 21,100 shares in the last quarter. Sanders Morris Harris LLC grew its holdings in shares of Shimmick by 8.3% during the second quarter. Sanders Morris Harris LLC now owns 609,892 shares of the company’s stock worth $945,000 after purchasing an additional 46,788 shares in the last quarter. Pacific Ridge Capital Partners LLC bought a new position in shares of Shimmick in the fourth quarter worth approximately $2,580,000. 1492 Capital Management LLC purchased a new stake in Shimmick in the fourth quarter valued at approximately $1,997,000. Finally, BNP Paribas Asset Management Holding S.A. bought a new stake in Shimmick during the fourth quarter valued at approximately $2,885,000. 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.