Short Interest in Shimmick Co. (NASDAQ:SHIM) Decreases By 27.7%

Shimmick Co. (NASDAQ:SHIM) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 52,300 shares, a decrease of 27.7% from the February 13th total of 72,300 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 72,000 shares, the days-to-cover ratio is currently 0.7 days.

Shimmick Stock Down 1.8 %

Shimmick stock traded down $0.03 during mid-day trading on Friday, reaching $1.67. The company’s stock had a trading volume of 54,963 shares, compared to its average volume of 414,337. The business’s 50 day simple moving average is $2.27 and its 200 day simple moving average is $2.43. The company has a debt-to-equity ratio of 58.60, a quick ratio of 0.80 and a current ratio of 0.80. Shimmick has a 12 month low of $1.47 and a 12 month high of $7.05. The company has a market capitalization of $56.44 million, a price-to-earnings ratio of -0.43 and a beta of 0.59.

Shimmick (NASDAQ:SHIM) last released its earnings results on Thursday, March 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.62). Shimmick had a negative net margin of 20.16% and a negative return on equity of 355.53%. The company had revenue of $103.55 million during the quarter, compared to analyst estimates of $118.90 million. During the same period in the prior year, the firm posted ($0.59) EPS. As a group, research analysts anticipate that Shimmick will post -2.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. State Street Corp bought a new position in shares of Shimmick in the third quarter valued at $36,000. Avanza Fonder AB bought a new stake in Shimmick during the fourth quarter worth $52,000. Thompson Davis & CO. Inc. acquired a new stake in Shimmick in the fourth quarter valued at $96,000. LPL Financial LLC bought a new position in shares of Shimmick in the 4th quarter valued at about $284,000. Finally, Pacific Ridge Capital Partners LLC increased its stake in shares of Shimmick by 41.2% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 486,160 shares of the company’s stock worth $1,259,000 after purchasing an additional 141,861 shares during the last quarter. Institutional investors and hedge funds own 6.94% of the company’s stock.

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.