Shimmick (NASDAQ:SHIM) Stock Rating Lowered by Roth Capital

Shimmick (NASDAQ:SHIM - Get Free Report) was downgraded by research analysts at Roth Capital from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday, Zacks.com reports.

A number of other equities research analysts have also recently issued reports on SHIM. Craig Hallum cut shares of Shimmick from a "buy" rating to a "hold" rating and dropped their price target for the company from $10.00 to $4.00 in a research note on Tuesday. Roth Mkm lowered shares of Shimmick from a "buy" rating to a "neutral" rating and dropped their target price for the company from $9.00 to $3.50 in a research report on Tuesday.

Shimmick Stock Down 20.4 %

SHIM traded down $0.49 on Tuesday, reaching $1.91. The stock had a trading volume of 299,636 shares, compared to its average volume of 72,590. The company has a 50-day moving average price of $4.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95. Shimmick has a 12-month low of $1.88 and a 12-month high of $7.99.

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

Institutional Trading of Shimmick

A number of institutional investors have recently made changes to their positions in SHIM. Skylands Capital LLC purchased a new position in shares of Shimmick in the fourth quarter worth about $300,000. BNP Paribas Asset Management Holding S.A. acquired a new stake in Shimmick in the 4th quarter valued at about $2,885,000. 1492 Capital Management LLC purchased a new position in Shimmick in the 4th quarter worth approximately $1,997,000. Pacific Ridge Capital Partners LLC acquired a new position in shares of Shimmick during the 4th quarter worth approximately $2,580,000. Finally, Sanders Morris Harris LLC acquired a new position in shares of Shimmick during the 1st quarter worth approximately $3,243,000. 6.94% of the stock is owned by institutional investors and hedge funds.

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.