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

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 company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $2.10, for a total transaction of $16,800.00. Following the transaction, the director owned 21,171,413 shares in the company, valued at $44,459,967.30. This represents a 0.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shimmick Stock Up 11.2%

SHIM traded up $0.22 during midday trading on Wednesday, hitting $2.19. 29,417 shares of the company traded hands, compared to its average volume of 28,390. Shimmick Corporation has a 52 week low of $1.30 and a 52 week high of $3.78. The company's 50-day moving average is $1.83 and its 200 day moving average is $1.82. The firm has a market capitalization of $77.24 million, a PE ratio of -0.67 and a beta of 0.82.

Shimmick (NASDAQ:SHIM - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.09. The company 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 in the previous year, the company earned ($1.15) EPS. On average, sell-side analysts predict that Shimmick Corporation will post -2.48 earnings per share for the current fiscal year.

Institutional Trading of Shimmick

A number of large investors have recently made changes to their positions in the business. Sanders Morris Harris LLC lifted its position in Shimmick by 0.8% during the second quarter. Sanders Morris Harris LLC now owns 749,173 shares of the company's stock valued at $1,281,000 after acquiring an additional 6,232 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of Shimmick in the fourth quarter worth $284,000. Finally, Thompson Davis & CO. Inc. increased its stake in shares of 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 acquiring an additional 10,000 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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