Shimmick Corporation (NASDAQ:SHIM) Short Interest Up 114.7% in June

Shimmick Corporation (NASDAQ:SHIM) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 27,277 shares, a growth of 114.7% from the May 31st total of 12,704 shares. Based on an average trading volume of 146,810 shares, the short-interest ratio is currently 0.2 days. Approximately 0.2% of the company’s shares are short sold.

Analysts Set New Price Targets

Several research analysts recently weighed in on SHIM shares. Roth Mkm upgraded Shimmick from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Shimmick in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised Shimmick to a “hold” rating in a research note on Saturday, April 25th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Avanza Fonder AB grew its stake in shares of Shimmick by 19.4% in the fourth quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock valued at $70,000 after buying an additional 3,878 shares in the last quarter. Thompson Davis & CO. Inc. lifted its stake in Shimmick by 13.4% during the 4th quarter. Thompson Davis & CO. Inc. now owns 124,722 shares of the company’s stock worth $364,000 after acquiring an additional 14,722 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Shimmick during the 1st quarter worth about $131,000. 1492 Capital Management LLC lifted its stake in Shimmick by 46.0% during the 1st quarter. 1492 Capital Management LLC now owns 149,812 shares of the company’s stock worth $550,000 after acquiring an additional 47,180 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Shimmick by 896.8% during the 1st quarter. Sei Investments Co. now owns 246,816 shares of the company’s stock valued at $906,000 after acquiring an additional 222,055 shares during the period. 6.94% of the stock is currently owned by institutional investors and hedge funds.

Shimmick Price Performance

Shares of SHIM opened at $4.28 on Tuesday. Shimmick has a 1-year low of $1.58 and a 1-year high of $6.76. The stock has a market cap of $157.08 million, a PE ratio of -7.38 and a beta of 0.93. The firm has a 50-day simple moving average of $4.40 and a two-hundred day simple moving average of $3.82.

Shimmick (NASDAQ:SHIM) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. The company had revenue of $88.03 million during the quarter, compared to analyst estimates of $116.80 million. As a group, sell-side analysts expect that Shimmick will post -0.08 earnings per share for the current fiscal year.

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. 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.