Weiss Ratings Reiterates Sell (D-) Rating for Shimmick (NASDAQ:SHIM)

Shimmick (NASDAQ:SHIM)‘s stock had its “sell (d-)” rating reiterated by stock analysts at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Shimmick Stock Down 1.3%

Shares of SHIM opened at $2.31 on Friday. The stock has a market capitalization of $81.59 million, a P/E ratio of -1.35 and a beta of 0.76. Shimmick has a twelve month low of $1.30 and a twelve month high of $3.78. The company has a 50 day moving average of $2.81 and a 200-day moving average of $2.12.

Insiders Place Their Bets

In related news, Director Mitchell B. Goldsteen sold 30,805 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $2.23, for a total transaction of $68,695.15. Following the transaction, the director directly owned 21,134,308 shares in the company, valued at approximately $47,129,506.84. The trade was a 0.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 87,518 shares of company stock worth $192,031 in the last 90 days. 77.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Shimmick

A hedge fund recently raised its stake in Shimmick stock. Sanders Morris Harris LLC increased its position in shares of Shimmick Corporation (NASDAQ:SHIM) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 749,173 shares of the company’s stock after buying an additional 6,232 shares during the period. Sanders Morris Harris LLC owned 2.12% of Shimmick worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission. 6.94% of the stock is owned by institutional investors and hedge funds.

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.