Shimmick Corporation (NASDAQ:SHIM) Director Mitchell B. Goldsteen Sells 7,000 Shares

Shimmick Corporation (NASDAQ:SHIM - Get Free Report) Director Mitchell B. Goldsteen sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $1.97, for a total transaction of $13,790.00. Following the completion of the transaction, the director directly owned 21,337,390 shares of the company's stock, valued at $42,034,658.30. This represents a 0.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shimmick Stock Up 1.0%

SHIM stock traded up $0.02 during midday trading on Wednesday, hitting $2.01. The company's stock had a trading volume of 6,839 shares, compared to its average volume of 384,456. Shimmick Corporation has a 52-week low of $1.30 and a 52-week high of $4.94. The firm has a market capitalization of $70.89 million, a P/E ratio of -0.61 and a beta of 0.80. The firm has a 50-day simple moving average of $1.67 and a 200-day simple moving average of $1.94.

Shimmick (NASDAQ:SHIM - Get Free Report) last announced its quarterly 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. Shimmick had a negative net margin of 20.98% and a negative return on equity of 9,647.06%. The firm 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) earnings per share. On average, sell-side analysts expect that Shimmick Corporation will post -2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Shimmick by 41.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 486,160 shares of the company's stock valued at $1,259,000 after purchasing an additional 141,861 shares in the last quarter. LPL Financial LLC purchased a new position in shares of Shimmick during the fourth quarter valued at approximately $284,000. Sanders Morris Harris LLC raised its stake in Shimmick by 4.2% during the first quarter. Sanders Morris Harris LLC now owns 742,941 shares of the company's stock worth $1,337,000 after purchasing an additional 30,276 shares during the period. Finally, Thompson Davis & CO. Inc. raised its stake in Shimmick by 21.6% during the first 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 period. 6.94% of the stock is currently owned by institutional investors and hedge funds.

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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