Shimmick Corporation (NASDAQ:SHIM) Director Mitchell B. Goldsteen Sells 29,639 Shares

Shimmick Corporation (NASDAQ:SHIM - Get Free Report) Director Mitchell B. Goldsteen sold 29,639 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1.99, for a total value of $58,981.61. Following the transaction, the director directly owned 21,353,437 shares in the company, valued at approximately $42,493,339.63. This represents a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shimmick Stock Down 6.3%

Shimmick stock traded down $0.13 during midday trading on Wednesday, reaching $1.93. The stock had a trading volume of 15,389 shares, compared to its average volume of 382,745. Shimmick Corporation has a 52-week low of $1.30 and a 52-week high of $4.94. The company has a fifty day moving average of $1.64 and a 200 day moving average of $1.96. The firm has a market cap of $66.43 million, a price-to-earnings ratio of -0.59 and a beta of 0.80.

Shimmick (NASDAQ:SHIM - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.09. Shimmick had a negative net margin of 20.98% and a negative return on equity of 9,647.06%. The company had revenue of $122.00 million during the quarter, compared to analysts' expectations of $94.35 million. During the same period in the previous year, the company earned ($1.15) EPS. Equities research analysts predict that Shimmick Corporation will post -2.48 EPS for the current year.

Institutional Investors Weigh In On Shimmick

Large investors have recently modified their holdings of the business. Pacific Ridge Capital Partners LLC raised its stake in Shimmick by 41.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 486,160 shares of the company's stock worth $1,259,000 after buying an additional 141,861 shares in the last quarter. LPL Financial LLC purchased a new position in shares of Shimmick in the 4th quarter valued at $284,000. Sanders Morris Harris LLC raised its position in shares of Shimmick by 4.2% in the 1st quarter. Sanders Morris Harris LLC now owns 742,941 shares of the company's stock worth $1,337,000 after acquiring an additional 30,276 shares in the last quarter. Finally, Thompson Davis & CO. Inc. lifted its stake in shares of Shimmick by 21.6% during the 1st quarter. Thompson Davis & CO. Inc. now owns 45,000 shares of the company's stock worth $81,000 after purchasing an additional 8,000 shares during the last quarter. 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.

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