Craig Hallum Cuts Shimmick (NASDAQ:SHIM) Price Target to $3.00

Shimmick (NASDAQ:SHIM) had its target price cut by Craig Hallum from $4.00 to $3.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages have also weighed in on SHIM. Roth Capital lowered shares of Shimmick from a strong-buy rating to a hold rating in a research note on Tuesday, May 14th. Roth Mkm reduced their target price on shares of Shimmick from $3.50 to $3.00 and set a neutral rating for the company in a research note on Monday.

Shimmick Stock Performance

NASDAQ:SHIM opened at $3.08 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.22. The business’s 50-day simple moving average is $2.59 and its 200-day simple moving average is $3.75. Shimmick has a fifty-two week low of $1.47 and a fifty-two week high of $7.99.

Hedge Funds Weigh In On Shimmick

A number of institutional investors have recently bought and sold shares of the business. Sanders Morris Harris LLC bought a new position in shares of Shimmick during the 1st quarter worth approximately $3,243,000. BNP Paribas Asset Management Holding S.A. acquired a new stake in Shimmick during the 4th quarter valued at $2,885,000. Pacific Ridge Capital Partners LLC bought a new position in Shimmick during the fourth quarter worth $2,580,000. 1492 Capital Management LLC acquired a new position in shares of Shimmick in the fourth quarter valued at $1,997,000. Finally, Skylands Capital LLC bought a new position in shares of Shimmick in the fourth quarter valued at about $300,000. Institutional investors and hedge funds own 6.94% of the company’s stock.

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.