Shimmick Co. (NASDAQ:SHIM) Sees Large Decline in Short Interest

Shimmick Co. (NASDAQ:SHIM) saw a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 144,400 shares, a drop of 36.7% from the December 31st total of 228,100 shares. Currently, 4.3% of the shares of the company are sold short. Based on an average daily volume of 443,900 shares, the short-interest ratio is presently 0.3 days.

Shimmick Stock Down 3.2 %

SHIM opened at $2.45 on Wednesday. The company has a 50 day moving average of $2.63 and a 200 day moving average of $2.70. Shimmick has a 12 month low of $1.47 and a 12 month high of $7.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 58.60.

Insider Transactions at Shimmick

In other news, Director Mitchell B. Goldsteen sold 325,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $3.26, for a total transaction of $1,059,500.00. Following the completion of the sale, the director now owns 21,583,800 shares in the company, valued at $70,363,188. This trade represents a 1.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 77.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sanders Morris Harris LLC boosted its holdings in Shimmick by 20.7% in the 4th quarter. Sanders Morris Harris LLC now owns 712,665 shares of the company’s stock worth $1,846,000 after buying an additional 122,442 shares during the period. State Street Corp bought a new position in Shimmick in the 3rd quarter worth approximately $36,000. Avanza Fonder AB bought a new position in Shimmick in the 4th quarter worth approximately $52,000. Finally, E&G Advisors LP bought a new position in Shimmick in the 3rd quarter worth approximately $31,000. 6.94% of the stock is owned by institutional investors.

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.