Shimmick Corporation (NASDAQ:SHIM) Sees Significant Growth in Short Interest

Key Points

• Short interest surged by 146.0% in March to 27,337 shares (about 0.2% of shares outstanding), with a short-interest ratio of 0.2 days based on average daily volume.
• Analysts are mixed: two recent upgrades to "Buy" and one "Sell" leave a consensus rating of "Hold" and an average price target of $5.50, while the stock trades around $3.94 (12‑month range $1.30–$4.47).
• Director Mitchell B. Goldsteen sold 125,000 shares at $2.86, and insiders collectively own a dominant 67.10% of the company while institutional investors hold about 6.94%.

Shimmick Corporation (NASDAQ:SHIM - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 27,337 shares, a growth of 146.0% from the March 15th total of 11,113 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 176,649 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SHIM shares. Craig Hallum upgraded shares of Shimmick from a "hold" rating to a "buy" rating and set a $6.00 price objective on the stock in a research note on Monday, January 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Shimmick in a research note on Friday, March 27th. Finally, Roth Mkm raised shares of Shimmick from a "neutral" rating to a "buy" rating and set a $5.00 target price for the company in a report on Friday, March 13th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $5.50.

Shimmick Trading Up 5.6%

NASDAQ SHIM opened at $3.94 on Friday. Shimmick has a 12 month low of $1.30 and a 12 month high of $4.47. The stock has a market cap of $142.19 million, a price-to-earnings ratio of -5.40 and a beta of 0.43. The company's 50 day moving average is $3.63 and its two-hundred day moving average is $3.07.

Insider Transactions at Shimmick

In other news, Director Mitchell B. Goldsteen sold 125,000 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $2.86, for a total value of $357,500.00. Following the transaction, the director owned 20,974,873 shares in the company, valued at $59,988,136.78. This represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 67.10% of the company's stock.

Institutional Investors Weigh In On Shimmick

A number of institutional investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. increased its stake in Shimmick by 13.4% in the 4th quarter. Thompson Davis & CO. Inc. now owns 124,722 shares of the company's stock worth $364,000 after buying an additional 14,722 shares in the last quarter. Avanza Fonder AB increased its stake in Shimmick by 19.4% in the 4th quarter. Avanza Fonder AB now owns 23,878 shares of the company's stock worth $70,000 after buying an additional 3,878 shares in the last quarter. Finally, Sanders Morris Harris LLC increased its stake in Shimmick by 8.1% in the 3rd quarter. Sanders Morris Harris LLC now owns 809,667 shares of the company's stock worth $2,113,000 after buying an additional 60,494 shares in the last quarter. Hedge funds and other institutional investors own 6.94% of the company's stock.

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. It serves federal, state, and local governments. The company was formerly known as SCCI National Holdings, Inc and changed its name to Shimmick Corporation in September 2023.

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