Shimmick (NASDAQ:SHIM) Stock Price Up 4.9% – Time to Buy?

Shares of Shimmick Corporation (NASDAQ:SHIM) traded up 4.9% on Tuesday . The company traded as high as $3.88 and last traded at $3.84. 44,143 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 110,085 shares. The stock had previously closed at $3.66.

Wall Street Analyst Weigh In

SHIM has been the subject of several research analyst reports. Wall Street Zen upgraded Shimmick to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shimmick in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.50.

Shimmick Price Performance

The stock has a market cap of $140.93 million, a PE ratio of -6.62 and a beta of 0.70. The business has a fifty day moving average of $3.89 and a 200-day moving average of $3.94.

Shimmick (NASDAQ:SHIM) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. The firm had revenue of $88.03 million during the quarter, compared to the consensus estimate of $116.80 million. As a group, equities research analysts predict that Shimmick Corporation will post -0.08 EPS for the current year.

Hedge Funds Weigh In On Shimmick

Several institutional investors have recently made changes to their positions in SHIM. Avanza Fonder AB raised its holdings in shares of Shimmick by 19.4% in the fourth quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock valued at $70,000 after acquiring an additional 3,878 shares in the last quarter. Renaissance Technologies LLC bought a new position in Shimmick during the 1st quarter worth about $131,000. Thompson Davis & CO. Inc. grew its holdings in Shimmick by 13.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 124,722 shares of the company’s stock worth $364,000 after acquiring an additional 14,722 shares in the last quarter. 1492 Capital Management LLC grew its holdings in Shimmick by 46.0% during the 1st quarter. 1492 Capital Management LLC now owns 149,812 shares of the company’s stock worth $550,000 after acquiring an additional 47,180 shares in the last quarter. Finally, Sei Investments Co. increased its position in Shimmick by 896.8% during the 1st quarter. Sei Investments Co. now owns 246,816 shares of the company’s stock valued at $906,000 after purchasing an additional 222,055 shares during the period. 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. 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.