Shimmick (NASDAQ:SHIM) Shares Up 3.8% – Here’s Why

Shares of Shimmick Co. (NASDAQ:SHIM) rose 3.8% on Monday . The stock traded as high as $1.65 and last traded at $1.62. Approximately 10,965 shares traded hands during trading, a decline of 97% from the average daily volume of 389,617 shares. The stock had previously closed at $1.56.

Shimmick Stock Performance

The company has a market capitalization of $55.76 million, a price-to-earnings ratio of -0.41 and a beta of 0.84. The company has a debt-to-equity ratio of 58.60, a quick ratio of 0.80 and a current ratio of 0.80. The company’s fifty day simple moving average is $1.60 and its two-hundred day simple moving average is $2.11.

Shimmick (NASDAQ:SHIM) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.09. The company had revenue of $122.00 million during the quarter, compared to analyst estimates of $94.35 million. Shimmick had a negative net margin of 20.16% and a negative return on equity of 355.53%. During the same period last year, the business earned ($1.15) EPS. Equities research analysts predict that Shimmick Co. will post -2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SHIM. Sanders Morris Harris LLC boosted its holdings in shares of Shimmick by 4.2% in the 1st quarter. Sanders Morris Harris LLC now owns 742,941 shares of the company’s stock valued at $1,337,000 after buying an additional 30,276 shares during the period. Pacific Ridge Capital Partners LLC boosted its holdings in shares of Shimmick by 41.2% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 486,160 shares of the company’s stock valued at $1,259,000 after buying an additional 141,861 shares during the period. LPL Financial LLC acquired a new position in shares of Shimmick in the 4th quarter valued at about $284,000. Finally, Thompson Davis & CO. Inc. boosted its holdings in shares of Shimmick by 21.6% in the 1st quarter. Thompson Davis & CO. Inc. now owns 45,000 shares of the company’s stock valued at $81,000 after buying an additional 8,000 shares during the period. 6.94% of the stock is owned by institutional investors and hedge funds.

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.