Shimmick Co. (NASDAQ:SHIM) Short Interest Down 34.2% in November

Shimmick Co. (NASDAQ:SHIM - Get Free Report) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 42,900 shares, a drop of 34.2% from the November 15th total of 65,200 shares. Currently, 1.4% of the company's shares are sold short. Based on an average daily volume of 420,500 shares, the short-interest ratio is currently 0.1 days.

Shimmick Price Performance

NASDAQ:SHIM traded down $0.13 during trading hours on Friday, hitting $2.72. The company's stock had a trading volume of 70,548 shares, compared to its average volume of 1,296,321. The stock has a fifty day simple moving average of $2.31 and a 200-day simple moving average of $2.48. The company has a market capitalization of $91.94 million and a P/E ratio of -0.69. The company has a debt-to-equity ratio of 58.60, a current ratio of 0.80 and a quick ratio of 0.80. Shimmick has a twelve month low of $1.47 and a twelve month high of $7.99.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Roth Mkm reduced their target price on Shimmick from $3.50 to $3.00 and set a "neutral" rating on the stock in a report on Monday, August 19th. Craig Hallum reduced their target price on Shimmick from $4.00 to $3.00 and set a "hold" rating on the stock in a report on Monday, August 19th.

Insider Transactions at Shimmick

In other Shimmick news, Director Mitchell B. Goldsteen sold 325,000 shares of Shimmick stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.26, for a total transaction of $1,059,500.00. Following the transaction, the director now directly owns 21,583,800 shares in the company, valued at approximately $70,363,188. The trade was a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 77.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Shimmick

A number of hedge funds have recently made changes to their positions in SHIM. Perritt Capital Management Inc grew its stake in Shimmick by 140.7% in the second quarter. Perritt Capital Management Inc now owns 36,100 shares of the company's stock valued at $56,000 after acquiring an additional 21,100 shares during the period. State Street Corp purchased a new position in Shimmick in the third quarter worth $36,000. Finally, E&G Advisors LP bought a new stake in shares of Shimmick in the third quarter valued at $31,000. 6.94% of the stock is currently 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.