Cannell Capital LLC acquired a new stake in Shimmick Corporation (NASDAQ:SHIM – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 957,605 shares of the company’s stock, valued at approximately $4,376,255. Shimmick accounts for approximately 0.0% of Cannell Capital LLC’s portfolio, making the stock its 16th biggest holding.
A number of other institutional investors have also modified their holdings of the company. Bank of America Corp DE acquired a new stake in Shimmick during the 2nd quarter worth approximately $135,000. BlackRock Inc. acquired a new position in Shimmick during the second quarter valued at approximately $1,048,000. Bank of New York Mellon Corp acquired a new position in Shimmick during the second quarter valued at approximately $47,000. GSA Capital Partners LLP purchased a new stake in Shimmick during the second quarter worth approximately $53,000. Finally, Walleye Capital LLC purchased a new stake in Shimmick during the second quarter worth approximately $578,000. Hedge funds and other institutional investors own 6.94% of the company’s stock.
Analyst Ratings Changes
SHIM has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Shimmick in a research note on Wednesday, June 24th. Wall Street Zen raised shares of Shimmick from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Shimmick has a consensus rating of “Hold” and a consensus target price of $5.50.
Shimmick Price Performance
NASDAQ SHIM opened at $3.99 on Friday. Shimmick Corporation has a fifty-two week low of $1.95 and a fifty-two week high of $6.76. The business has a 50 day moving average price of $3.91 and a two-hundred day moving average price of $3.99. The stock has a market cap of $164.95 million, a PE ratio of -8.87 and a beta of 0.78.
Shimmick (NASDAQ:SHIM – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $106.62 million for the quarter, compared to analysts’ expectations of $121.85 million. Sell-side analysts anticipate that Shimmick Corporation will post -0.03 EPS for the current fiscal year.
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.
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