Shimmick Co.’s (NASDAQ:SHIM) Lock-Up Period Set To Expire on May 13th

Shimmick’s (NASDAQ:SHIM) lock-up period is set to expire on Monday, May 13th. Shimmick had issued 3,575,000 shares in its IPO on November 14th. The total size of the offering was $25,025,000 based on an initial share price of $7.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Wall Street Analysts Forecast Growth

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

Shimmick Price Performance

NASDAQ SHIM opened at $3.68 on Wednesday. The business has a 50-day simple moving average of $4.99. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.63. Shimmick has a 1 year low of $2.15 and a 1 year high of $7.99.

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

Hedge Funds Weigh In On Shimmick

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sanders Morris Harris LLC bought a new position in shares of Shimmick in the 1st quarter worth about $3,243,000. BNP Paribas Asset Management Holding S.A. purchased a new stake in shares of Shimmick during the fourth quarter valued at approximately $2,885,000. Pacific Ridge Capital Partners LLC purchased a new position in shares of Shimmick in the fourth quarter worth $2,580,000. 1492 Capital Management LLC purchased a new stake in shares of Shimmick during the fourth quarter valued at $1,997,000. Finally, Skylands Capital LLC bought a new stake in Shimmick in the 4th quarter worth about $300,000. 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.