Shimmick (NASDAQ:SHIM) Downgraded by Craig Hallum

Craig Hallum cut shares of Shimmick (NASDAQ:SHIM - Free Report) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. They currently have $4.00 price objective on the stock, down from their prior price objective of $10.00.

Separately, Roth Mkm downgraded shares of Shimmick from a buy rating to a neutral rating and decreased their price target for the company from $9.00 to $3.50 in a research note on Tuesday.

Shimmick Trading Down 34.1 %

Shimmick stock traded down $1.24 during midday trading on Tuesday, hitting $2.40. The stock had a trading volume of 230,148 shares, compared to its average volume of 69,852. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.63. Shimmick has a 52-week low of $2.15 and a 52-week high of $7.99. The stock has a fifty day moving average of $4.71.

Shimmick (NASDAQ:SHIM - Get Free Report) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.51). The business had revenue of $138.06 million during the quarter, compared to analyst estimates of $159.50 million. As a group, research analysts predict that Shimmick will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Skylands Capital LLC purchased a new position in shares of Shimmick in the 4th quarter valued at approximately $300,000. 1492 Capital Management LLC acquired a new position in Shimmick in the 4th quarter worth approximately $1,997,000. Pacific Ridge Capital Partners LLC acquired a new position in Shimmick in the 4th quarter worth approximately $2,580,000. BNP Paribas Asset Management Holding S.A. acquired a new position in Shimmick in the 4th quarter worth approximately $2,885,000. Finally, Sanders Morris Harris LLC acquired a new position in Shimmick in the 1st quarter worth approximately $3,243,000. 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.