Short Interest in Shimmick Co. (NASDAQ:SHIM) Grows By 19.1%

Shimmick Co. (NASDAQ:SHIM - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 57,900 shares, an increase of 19.1% from the March 15th total of 48,600 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 17,200 shares, the short-interest ratio is presently 3.4 days.

Shimmick Price Performance

Shares of SHIM traded down $0.01 during trading hours on Friday, reaching $1.60. 1,290 shares of the stock traded hands, compared to its average volume of 399,833. The company has a market cap of $54.81 million, a P/E ratio of -0.41 and a beta of 0.84. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 58.60. The company's 50-day moving average price is $1.71 and its two-hundred day moving average price is $2.19. Shimmick has a 52-week low of $1.30 and a 52-week high of $4.94.

Shimmick (NASDAQ:SHIM - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.91) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.62). The business had revenue of $103.55 million during the quarter, compared to the consensus estimate of $118.90 million. Shimmick had a negative return on equity of 355.53% and a negative net margin of 20.16%. During the same period last year, the company earned ($0.59) EPS. On average, analysts anticipate that Shimmick will post -2.48 earnings per share for the current year.

Institutional Investors Weigh In On Shimmick

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp bought a new position in shares of Shimmick during the third quarter worth $36,000. Avanza Fonder AB purchased a new stake in Shimmick in the 4th quarter worth $52,000. Thompson Davis & CO. Inc. bought a new position in shares of Shimmick during the 4th quarter valued at about $96,000. LPL Financial LLC purchased a new position in shares of Shimmick during the fourth quarter valued at about $284,000. Finally, Pacific Ridge Capital Partners LLC increased its holdings in shares of Shimmick by 41.2% in the fourth 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. 6.94% of the stock is owned by hedge funds and other 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.