Shimmick’s (NASDAQ:SHIM – Get Free Report) lock-up period will end on Monday, May 13th. Shimmick had issued 3,575,000 shares in its initial public offering on November 14th. The total size of the offering was $25,025,000 based on an initial share price of $7.00. After the end of Shimmick’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Analyst Ratings Changes
Separately, Roth Mkm cut their price target on Shimmick from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, April 1st.
Get Our Latest Analysis on SHIM
Shimmick Stock Down 1.3 %
Shimmick (NASDAQ:SHIM – Get Free Report) last released its quarterly earnings results on Thursday, March 28th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.51). The company had revenue of $138.06 million during the quarter, compared to analyst estimates of $159.50 million. Analysts anticipate that Shimmick will post -0.09 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHIM. Sanders Morris Harris LLC purchased a new stake in Shimmick during the first quarter valued at about $3,243,000. BNP Paribas Asset Management Holding S.A. purchased a new stake in shares of Shimmick during the 4th quarter valued at approximately $2,885,000. Pacific Ridge Capital Partners LLC purchased a new position in Shimmick in the 4th quarter valued at approximately $2,580,000. 1492 Capital Management LLC bought a new stake in Shimmick during the 4th quarter valued at $1,997,000. Finally, Skylands Capital LLC purchased a new stake in shares of Shimmick during the fourth quarter worth $300,000. 6.94% of the stock is currently owned by hedge funds and other institutional investors.
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.
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