Shimmick Co. (NASDAQ:SHIM) Short Interest Up 31.5% in April

Shimmick Co. (NASDAQ:SHIM) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 51,400 shares, an increase of 31.5% from the March 31st total of 39,100 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average trading volume of 63,100 shares, the short-interest ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

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

Shimmick Price Performance

Shares of Shimmick stock traded up $0.19 during mid-day trading on Tuesday, hitting $3.87. 35,810 shares of the stock were exchanged, compared to its average volume of 70,553. Shimmick has a 12 month low of $2.15 and a 12 month high of $7.99. The firm’s 50-day moving average is $5.22. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.63.

Shimmick (NASDAQ:SHIM) last announced its quarterly earnings data on Thursday, March 28th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.51). The business had revenue of $138.06 million during the quarter, compared to analysts’ expectations of $159.50 million. On average, equities analysts predict that Shimmick will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris LLC purchased a new position in shares of Shimmick during the 1st quarter valued at $3,243,000. BNP Paribas Asset Management Holding S.A. purchased a new stake in Shimmick during the fourth quarter valued at about $2,885,000. Pacific Ridge Capital Partners LLC bought a new position in Shimmick during the fourth quarter worth about $2,580,000. 1492 Capital Management LLC purchased a new position in shares of Shimmick in the fourth quarter worth about $1,997,000. Finally, Skylands Capital LLC bought a new stake in shares of Shimmick in the fourth quarter valued at approximately $300,000. 6.94% of the stock is currently owned by hedge funds and other institutional investors.

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.