Sanders Morris Harris LLC Sells 390,097 Shares of Shimmick Corporation $SHIM

Sanders Morris Harris LLC reduced its stake in shares of Shimmick Corporation (NASDAQ:SHIM) by 51.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 368,300 shares of the company’s stock after selling 390,097 shares during the quarter. Shimmick comprises 1.0% of Sanders Morris Harris LLC’s portfolio, making the stock its 21st biggest holding. Sanders Morris Harris LLC’s holdings in Shimmick were worth $1,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Shimmick during the 1st quarter valued at about $131,000. 1492 Capital Management LLC raised its stake in shares of Shimmick by 46.0% in the 1st quarter. 1492 Capital Management LLC now owns 149,812 shares of the company’s stock valued at $550,000 after acquiring an additional 47,180 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Shimmick by 896.8% in the 1st quarter. Sei Investments Co. now owns 246,816 shares of the company’s stock worth $906,000 after purchasing an additional 222,055 shares during the last quarter. Institutional investors and hedge funds own 6.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wall Street Zen upgraded Shimmick to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shimmick in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.50.

Shimmick Stock Performance

NASDAQ SHIM opened at $4.18 on Thursday. Shimmick Corporation has a twelve month low of $1.68 and a twelve month high of $6.76. The stock has a market cap of $153.39 million, a PE ratio of -7.21 and a beta of 0.78. The firm has a 50-day simple moving average of $3.82 and a 200 day simple moving average of $3.98.

Shimmick (NASDAQ:SHIM) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. The firm had revenue of $88.03 million for the quarter, compared to the consensus estimate of $116.80 million. Research analysts forecast that Shimmick Corporation will post -0.08 earnings per share 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.