Insider Selling: Shimmick Corporation (NASDAQ:SHIM) Director Sells 8,558 Shares of Stock

Shimmick Corporation (NASDAQ:SHIM - Get Free Report) Director Mitchell B. Goldsteen sold 8,558 shares of Shimmick stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $2.20, for a total transaction of $18,827.60. Following the completion of the sale, the director owned 21,313,922 shares of the company's stock, valued at approximately $46,890,628.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shimmick Price Performance

SHIM traded down $0.11 during trading hours on Friday, hitting $2.16. 17,893 shares of the stock were exchanged, compared to its average volume of 204,159. The stock has a 50-day simple moving average of $1.73 and a 200-day simple moving average of $1.91. Shimmick Corporation has a 12 month low of $1.30 and a 12 month high of $4.94. The stock has a market cap of $76.18 million, a price-to-earnings ratio of -0.66 and a beta of 0.80.

Shimmick (NASDAQ:SHIM - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.09. The firm had revenue of $122.00 million for the quarter, compared to analysts' expectations of $94.35 million. Shimmick had a negative net margin of 20.98% and a negative return on equity of 9,647.06%. During the same quarter last year, the company posted ($1.15) earnings per share. Sell-side analysts expect that Shimmick Corporation will post -2.48 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Pacific Ridge Capital Partners LLC lifted its stake in Shimmick by 41.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 486,160 shares of the company's stock valued at $1,259,000 after buying an additional 141,861 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of Shimmick in the 4th quarter worth about $284,000. Sanders Morris Harris LLC lifted its position in Shimmick by 4.2% in the 1st quarter. Sanders Morris Harris LLC now owns 742,941 shares of the company's stock valued at $1,337,000 after purchasing an additional 30,276 shares during the last quarter. Finally, Thompson Davis & CO. Inc. boosted its stake in Shimmick by 21.6% during the 1st quarter. Thompson Davis & CO. Inc. now owns 45,000 shares of the company's stock valued at $81,000 after purchasing an additional 8,000 shares during the period. 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.

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