Shimmick Co. (NASDAQ:SHIM - Get Free Report) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 39,800 shares, a drop of 24.0% from the September 15th total of 52,400 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 997,800 shares, the days-to-cover ratio is presently 0.0 days.
Several brokerages have recently weighed in on SHIM. Roth Mkm decreased their price objective on Shimmick from $3.50 to $3.00 and set a "neutral" rating on the stock in a report on Monday, August 19th. Craig Hallum lowered their price objective on Shimmick from $4.00 to $3.00 and set a "hold" rating on the stock in a research note on Monday, August 19th.
Read Our Latest Stock Analysis on SHIM
Shares of SHIM traded up $0.03 during mid-day trading on Friday, hitting $2.34. 20,307 shares of the company traded hands, compared to its average volume of 18,550. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 151.25. The business has a 50-day moving average of $2.89 and a 200 day moving average of $2.81. Shimmick has a one year low of $1.47 and a one year high of $7.99. The stock has a market capitalization of $78.60 million and a price-to-earnings ratio of -1.02.
Shimmick (NASDAQ:SHIM - Get Free Report) last issued its earnings results on Thursday, August 15th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.36) by ($1.47). The business had revenue of $90.61 million for the quarter, compared to the consensus estimate of $120.00 million. Shimmick had a negative net margin of 12.90% and a negative return on equity of 134.28%. As a group, equities analysts expect that Shimmick will post -4.06 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Shimmick stock. Perritt Capital Management Inc increased its holdings in shares of Shimmick Co. (NASDAQ:SHIM - Free Report) by 140.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,100 shares of the company's stock after buying an additional 21,100 shares during the quarter. Perritt Capital Management Inc owned 0.12% of Shimmick worth $56,000 at the end of the most recent reporting period. 6.94% of the stock is currently owned by hedge funds and other institutional investors.
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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