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

Shimmick Co. (NASDAQ:SHIM) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 51,400 shares, an increase of 31.5% from the March 31st total of 39,100 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average daily volume of 63,100 shares, the days-to-cover ratio is currently 0.8 days.

Analysts Set New Price Targets

Separately, Roth Mkm reduced their target price on shares of Shimmick from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, April 1st.

Institutional Investors Weigh In On Shimmick

A number of institutional investors and hedge funds have recently modified their holdings of SHIM. Skylands Capital LLC purchased a new position in Shimmick in the 4th quarter worth about $300,000. 1492 Capital Management LLC purchased a new position in shares of Shimmick during the fourth quarter worth approximately $1,997,000. Pacific Ridge Capital Partners LLC bought a new stake in shares of Shimmick during the fourth quarter valued at approximately $2,580,000. BNP Paribas Asset Management Holding S.A. purchased a new stake in shares of Shimmick in the fourth quarter valued at approximately $2,885,000. Finally, Sanders Morris Harris LLC bought a new position in Shimmick in the first quarter worth approximately $3,243,000. 6.94% of the stock is owned by institutional investors.

Shimmick Trading Up 5.2 %

SHIM stock traded up $0.19 during mid-day trading on Tuesday, reaching $3.87. 35,810 shares of the stock traded hands, compared to its average volume of 70,553. Shimmick has a one year low of $2.15 and a one year high of $7.99. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $5.22.

Shimmick (NASDAQ:SHIM) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.51). The company had revenue of $138.06 million for the quarter, compared to the consensus estimate of $159.50 million. As a group, analysts anticipate that Shimmick will post -0.09 earnings per share 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.