Shimmick Co. (NASDAQ:SHIM) Sees Significant Decrease in Short Interest

Shimmick Co. (NASDAQ:SHIM) was the target of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 31,300 shares, a decrease of 18.7% from the April 30th total of 38,500 shares. Based on an average trading volume of 16,500 shares, the short-interest ratio is presently 1.9 days. Approximately 0.9% of the shares of the company are sold short.

Shimmick Price Performance

SHIM opened at $1.62 on Tuesday. 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 stock has a market capitalization of $55.59 million, a P/E ratio of -0.41 and a beta of 0.84. The company’s 50-day simple moving average is $1.59 and its two-hundred day simple moving average is $2.09. Shimmick has a 52-week low of $1.30 and a 52-week high of $4.94.

Shimmick (NASDAQ:SHIM) last posted its earnings results on Wednesday, May 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.09. The business had revenue of $122.00 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned ($1.15) EPS. As a group, analysts predict that Shimmick will post -2.48 EPS for the current year.

Hedge Funds Weigh In On Shimmick

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacific Ridge Capital Partners LLC lifted its stake in Shimmick by 41.2% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 486,160 shares of the company’s stock valued at $1,259,000 after acquiring an additional 141,861 shares during the period. LPL Financial LLC bought a new position in shares of Shimmick in the 4th quarter worth approximately $284,000. Sanders Morris Harris LLC lifted its stake 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 worth $1,337,000 after purchasing an additional 30,276 shares during the period. Finally, Thompson Davis & CO. Inc. bought a new position in shares of Shimmick in the 4th quarter worth approximately $96,000. 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.