Short Interest in Shimmick Corporation (NASDAQ:SHIM) Grows By 49.9%

Shimmick Corporation (NASDAQ:SHIM) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 16,435 shares, a growth of 49.9% from the December 31st total of 10,966 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 55,367 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 55,367 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the shares of the company are sold short.

Institutional Investors Weigh In On Shimmick

Hedge funds have recently modified their holdings of the company. Avanza Fonder AB grew its position in shares of Shimmick by 19.4% during the 4th quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock valued at $70,000 after acquiring an additional 3,878 shares during the period. Thompson Davis & CO. Inc. boosted its position in Shimmick by 22.2% during the second quarter. Thompson Davis & CO. Inc. now owns 55,000 shares of the company’s stock worth $94,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Sanders Morris Harris LLC grew its holdings in Shimmick by 0.8% in the second quarter. Sanders Morris Harris LLC now owns 749,173 shares of the company’s stock valued at $1,281,000 after purchasing an additional 6,232 shares during the period. 6.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on SHIM shares. Craig Hallum upgraded Shimmick from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Shimmick in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

Shimmick Trading Up 10.3%

Shimmick stock opened at $3.75 on Friday. The firm has a market cap of $134.29 million, a PE ratio of -2.11 and a beta of 0.54. Shimmick has a 12 month low of $1.30 and a 12 month high of $4.10. The stock’s 50 day simple moving average is $3.07 and its two-hundred day simple moving average is $2.69.

Shimmick (NASDAQ:SHIM) last posted its earnings results on Thursday, November 13th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. The firm had revenue of $141.92 million for the quarter, compared to analysts’ expectations of $120.20 million. On average, equities research analysts forecast that Shimmick will post -2.48 EPS for the current 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.