Shimmick Corporation (NASDAQ:SHIM) Director Mitchell B. Goldsteen Sells 15,310 Shares

Key Points

• Mitchell B. Goldsteen, a director at Shimmick Corporation, sold 15,310 shares of the company for approximately $30,007.60, reducing his ownership stake slightly to about 21.2 million shares.
• Shimmick Corporation's stock increased by 11.2% recently, reaching a price of $2.19, with institutional investors holding 6.94% of the company's shares.
• The company reported a loss of $0.22 earnings per share in its latest earnings results, outperforming estimates, with revenue of $122 million amid significantly negative return on equity.

Shimmick Corporation (NASDAQ:SHIM - Get Free Report) Director Mitchell B. Goldsteen sold 15,310 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $1.96, for a total value of $30,007.60. Following the completion of the sale, the director owned 21,181,529 shares of the company's stock, valued at $41,515,796.84. This trade represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shimmick Stock Performance

Shares of SHIM traded up $0.14 during trading hours on Monday, hitting $2.53. 96,666 shares of the stock were exchanged, compared to its average volume of 29,587. Shimmick Corporation has a 12-month low of $1.30 and a 12-month high of $3.78. The company has a market cap of $89.06 million, a price-to-earnings ratio of -1.48 and a beta of 0.82. The stock's 50-day moving average price is $1.88 and its two-hundred day moving average price is $1.81.

Institutional Trading of Shimmick

Several large investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris LLC lifted its holdings in shares of Shimmick by 0.8% in the 2nd quarter. Sanders Morris Harris LLC now owns 749,173 shares of the company's stock worth $1,281,000 after acquiring an additional 6,232 shares during the last quarter. LPL Financial LLC purchased a new stake in Shimmick during the fourth quarter worth approximately $284,000. Finally, Thompson Davis & CO. Inc. lifted its stake in Shimmick by 22.2% during the second quarter. Thompson Davis & CO. Inc. now owns 55,000 shares of the company's stock worth $94,000 after purchasing an additional 10,000 shares during the last quarter. 6.94% of the stock is currently 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.