Shimmick Corporation (NASDAQ:SHIM) Short Interest Down 43.3% in August

Key Points

• Shimmick Corporation (NASDAQ:SHIM) experienced a significant decline in short interest of 43.3% in August, dropping from 80,600 shares to 45,700 shares.
• Insider transactions revealed that Director Mitchell B. Goldsteen sold 30,805 shares at an average price of $2.23, reducing his stake by 0.15% but still retaining a substantial position.
• The stock price of Shimmick has increased by 1.3%, reaching $3.17, with a market cap of approximately $111.95 million and a P/E ratio of -1.85.

Shimmick Corporation (NASDAQ:SHIM - ) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 45,700 shares, a decline of 43.3% from the August 15th total of 80,600 shares. Based on an average trading volume of 53,500 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.2% of the company's shares are sold short. Approximately 1.2% of the company's shares are sold short. Based on an average trading volume of 53,500 shares, the days-to-cover ratio is presently 0.9 days.

Insider Transactions at Shimmick

In related news, Director Mitchell B. Goldsteen sold 30,805 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $2.23, for a total transaction of $68,695.15. Following the completion of the transaction, the director owned 21,134,308 shares in the company, valued at $47,129,506.84. The trade was a 0.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 239,101 shares of company stock worth $493,644. 67.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Shimmick

An institutional investor recently raised its position in Shimmick stock. Sanders Morris Harris LLC grew its position in Shimmick Corporation (NASDAQ:SHIM - Free Report) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 749,173 shares of the company's stock after buying an additional 6,232 shares during the quarter. Sanders Morris Harris LLC owned 2.12% of Shimmick worth $1,281,000 at the end of the most recent reporting period. 6.94% of the stock is owned by institutional investors and hedge funds.

Shimmick Stock Up 1.3%

SHIM opened at $3.17 on Friday. The business has a fifty day moving average of $2.41 and a 200 day moving average of $1.91. Shimmick has a 52-week low of $1.30 and a 52-week high of $3.78. The stock has a market cap of $111.95 million, a P/E ratio of -1.85 and a beta of 0.88.

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.

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