Shimmick (NASDAQ:SHIM) Trading 36% Higher

Shimmick Co. (NASDAQ:SHIM)’s stock price rose 36% during mid-day trading on Thursday . The company traded as high as $4.12 and last traded at $4.08. Approximately 946,277 shares traded hands during trading, an increase of 1,338% from the average daily volume of 65,784 shares. The stock had previously closed at $3.00.

Wall Street Analyst Weigh In

Separately, Roth Mkm decreased their target price on shares of Shimmick from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, April 1st.

Shimmick Trading Up 36.0 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50-day simple moving average of $5.35.

Shimmick (NASDAQ:SHIM) last posted its quarterly earnings data on Thursday, March 28th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.51). The firm had revenue of $138.06 million for the quarter, compared to the consensus estimate of $159.50 million. Equities analysts expect that Shimmick Co. will post -0.09 earnings per share for the current year.

Institutional Trading of Shimmick

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHIM. Sanders Morris Harris LLC bought a new stake in shares of Shimmick during the first quarter valued at approximately $3,243,000. BNP Paribas Asset Management Holding S.A. bought a new stake in shares of Shimmick during the fourth quarter valued at approximately $2,885,000. Pacific Ridge Capital Partners LLC bought a new stake in shares of Shimmick during the fourth quarter valued at approximately $2,580,000. 1492 Capital Management LLC bought a new stake in shares of Shimmick during the fourth quarter valued at approximately $1,997,000. Finally, Skylands Capital LLC bought a new stake in shares of Shimmick during the fourth quarter valued at approximately $300,000. Institutional investors 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.