Shimmick Co.'s Lock-Up Period Will End on May 13th (NASDAQ:SHIM)

Shimmick's (NASDAQ:SHIM - Get Free Report) lock-up period will end on Monday, May 13th. Shimmick had issued 3,575,000 shares in its IPO on November 14th. The total size of the offering was $25,025,000 based on an initial share price of $7.00. After the end of the company's lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analysts Set New Price Targets

Separately, Roth Mkm dropped their price target on shares of Shimmick from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Monday, April 1st.

Shimmick Stock Performance

NASDAQ SHIM remained flat at $3.70 on Monday. The company had a trading volume of 25,569 shares, compared to its average volume of 70,765. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.95 and a quick ratio of 0.95. The business's 50-day moving average is $5.03. Shimmick has a twelve month low of $2.15 and a twelve month high of $7.99.

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

Institutional Investors Weigh In On Shimmick

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Skylands Capital LLC bought a new position in shares of Shimmick in the fourth quarter valued at approximately $300,000. 1492 Capital Management LLC bought a new position in Shimmick in the 4th quarter valued at $1,997,000. Pacific Ridge Capital Partners LLC purchased a new stake in shares of Shimmick during the 4th quarter valued at $2,580,000. BNP Paribas Asset Management Holding S.A. bought a new stake in shares of Shimmick during the 4th quarter worth $2,885,000. Finally, Sanders Morris Harris LLC purchased a new position in shares of Shimmick in the 1st quarter worth about $3,243,000. Hedge funds and other institutional investors own 6.94% of the company's stock.

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.