Short Interest in Shimmick Corporation (NASDAQ:SHIM) Grows By 49.9%

Shimmick Corporation (NASDAQ:SHIM) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 16,435 shares, an increase of 49.9% from the December 31st total of 10,966 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 55,367 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 55,367 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SHIM. Craig Hallum raised Shimmick from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Shimmick in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.00.

Shimmick Stock Up 10.3%

SHIM stock opened at $3.75 on Friday. The company has a fifty day simple moving average of $3.07 and a two-hundred day simple moving average of $2.69. Shimmick has a 52 week low of $1.30 and a 52 week high of $4.10. The firm has a market capitalization of $134.29 million, a P/E ratio of -2.11 and a beta of 0.54.

Shimmick (NASDAQ:SHIM) last announced its earnings results on Thursday, November 13th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The business had revenue of $141.92 million for the quarter, compared to analysts’ expectations of $120.20 million. As a group, analysts anticipate that Shimmick will post -2.48 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. raised its holdings in shares of Shimmick by 13.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 124,722 shares of the company’s stock worth $364,000 after buying an additional 14,722 shares during the last quarter. Avanza Fonder AB raised its stake in Shimmick by 19.4% in the 4th quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock worth $70,000 after acquiring an additional 3,878 shares during the last quarter. Finally, Sanders Morris Harris LLC raised its stake in Shimmick by 8.1% in the 3rd quarter. Sanders Morris Harris LLC now owns 809,667 shares of the company’s stock worth $2,113,000 after acquiring an additional 60,494 shares during the last quarter. Institutional investors and hedge funds own 6.94% of the company’s stock.

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. 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.