Short Interest in Shimmick Corporation (NASDAQ:SHIM) Increases By 73.1%

Key Points

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Shimmick Corporation (NASDAQ:SHIM - Get Free Report) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 79,800 shares, agrowthof73.1% from the July 15th total of 46,100 shares. Currently,2.2% of the company's shares are short sold. Based on an average trading volume of 43,700 shares, the short-interest ratio is presently 1.8 days. Based on an average trading volume of 43,700 shares, the short-interest ratio is presently 1.8 days. Currently,2.2% of the company's shares are short sold.

Insiders Place Their Bets

In related news, Director Mitchell B. Goldsteen sold 30,805 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $2.23, for a total value of $68,695.15. Following the completion of the transaction, the director directly owned 21,134,308 shares in the company, valued at approximately $47,129,506.84. This represents a 0.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 249,504 shares of company stock valued at $497,012 in the last ninety days. Corporate insiders own 67.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Thompson Davis & CO. Inc. boosted its position in shares of Shimmick by 22.2% during the second quarter. Thompson Davis & CO. Inc. now owns 55,000 shares of the company's stock worth $94,000 after buying an additional 10,000 shares during the period. Sanders Morris Harris LLC boosted its position in shares of Shimmick by 0.8% during the second quarter. Sanders Morris Harris LLC now owns 749,173 shares of the company's stock worth $1,281,000 after buying an additional 6,232 shares during the period. Finally, LPL Financial LLC purchased a new position in shares of Shimmick during the fourth quarter worth $284,000. 6.94% of the stock is currently owned by hedge funds and other institutional investors.

Shimmick Trading Up 2.0%

Shimmick stock traded up $0.06 during mid-day trading on Friday, hitting $3.03. The company's stock had a trading volume of 102,921 shares, compared to its average volume of 57,275. Shimmick has a 1 year low of $1.30 and a 1 year high of $3.78. The stock's fifty day moving average is $2.00 and its two-hundred day moving average is $1.83. The firm has a market capitalization of $106.88 million, a PE ratio of -1.77 and a beta of 0.82.

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.