Gratia Capital LLC Purchases New Shares in Shimmick Corporation $SHIM

Key Points

• Gratia Capital acquired 726,936 shares of Shimmick, valued at approximately $3.32 million, giving it a 1.76% stake and making Shimmick 2% of its portfolio. Other institutions also initiated or expanded positions, though overall institutional ownership remains 6.94%.
• Analyst sentiment is mixed, with two Buy ratings and one Sell rating; the consensus rating is Hold with an average price target of $5.50.
• Shimmick shares opened at $3.47 after falling 7%, while the company’s latest quarter showed a smaller-than-expected loss of $0.01 per share but revenue of $106.62 million, below the $121.85 million estimate.

Gratia Capital LLC acquired a new position in Shimmick Corporation (NASDAQ:SHIM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 726,936 shares of the company's stock, valued at approximately $3,322,000. Shimmick makes up 2.0% of Gratia Capital LLC's investment portfolio, making the stock its 12th biggest position. Gratia Capital LLC owned about 1.76% of Shimmick at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cannell Capital LLC bought a new stake in shares of Shimmick during the 2nd quarter valued at about $4,376,255. BlackRock Inc. bought a new position in Shimmick in the second quarter worth about $1,048,000. Sei Investments Co. raised its stake in Shimmick by 896.8% in the first quarter. Sei Investments Co. now owns 246,816 shares of the company's stock worth $906,000 after buying an additional 222,055 shares in the last quarter. Walleye Capital LLC purchased a new stake in Shimmick in the second quarter worth about $578,000. Finally, 1492 Capital Management LLC lifted its holdings in Shimmick by 46.0% in the first quarter. 1492 Capital Management LLC now owns 149,812 shares of the company's stock worth $550,000 after buying an additional 47,180 shares during the period. 6.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHIM has been the topic of a number of research analyst reports. Wall Street Zen upgraded Shimmick from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Shimmick in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Shimmick has a consensus rating of "Hold" and an average price target of $5.50.

Shimmick Trading Down 7.0%

Shimmick stock opened at $3.47 on Thursday. The business's fifty day simple moving average is $3.84 and its two-hundred day simple moving average is $3.98. Shimmick Corporation has a 12 month low of $1.95 and a 12 month high of $6.76. The company has a market capitalization of $143.45 million, a price-to-earnings ratio of -7.71 and a beta of 0.76.

Shimmick (NASDAQ:SHIM - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. The company had revenue of $106.62 million during the quarter, compared to analysts' expectations of $121.85 million. On average, equities research analysts predict that Shimmick Corporation will post -0.03 EPS for the current year.

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. It serves federal, state, and local governments. The company was formerly known as SCCI National Holdings, Inc and changed its name to Shimmick Corporation in September 2023.

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