Shimmick Corporation (NASDAQ:SHIM) Director Mitchell B. Goldsteen Sells 8,000 Shares

Key Points

• Mitchell B. Goldsteen, a director at Shimmick Corporation, sold 8,000 shares of the company at an average price of $2.10, reducing his stake by 0.04% to 21,171,413 shares.
• Shimmick Corporation's stock price rose by 11.2% to $2.19 amidst trading, with a market capitalization of $77.24 million and significant fluctuations between a 52-week low of $1.30 and a high of $3.78.
• The company reported a loss of ($0.22) earnings per share for the last quarter, beating analysts' expectations, and had revenue of $122 million, significantly higher than anticipated.

Shimmick Corporation (NASDAQ:SHIM - Get Free Report) Director Mitchell B. Goldsteen sold 8,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $2.10, for a total value of $16,800.00. Following the sale, the director owned 21,171,413 shares in the company, valued at approximately $44,459,967.30. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shimmick Price Performance

Shares of NASDAQ:SHIM traded up $0.14 during midday trading on Monday, hitting $2.53. The company had a trading volume of 96,666 shares, compared to its average volume of 29,587. The company has a market cap of $89.06 million, a price-to-earnings ratio of -1.48 and a beta of 0.82. Shimmick Corporation has a 12-month low of $1.30 and a 12-month high of $3.78. The company has a fifty day moving average of $1.88 and a two-hundred day moving average of $1.81.

Institutional Trading of Shimmick

Institutional investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. grew its holdings in Shimmick by 22.2% in 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. Sanders Morris Harris LLC grew its stake 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 valued at $1,281,000 after buying an additional 6,232 shares during the period. Finally, LPL Financial LLC purchased a new position in Shimmick in the 4th quarter valued at approximately $284,000. Institutional investors own 6.94% of the company's stock.

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.