Shimmick Corporation (NASDAQ:SHIM) Short Interest Update

Key Points

• Shimmick Corporation's short interest saw a significant decline of 61.1% in September, dropping to a total of 17,800 shares from 45,700 shares at the end of August.
• In recent trading, Shimmick's stock price was $2.90, with a 52-week range between $1.30 and $3.78.
• Institutional ownership of Shimmick increased, with Thompson Davis & CO. Inc. raising its stake by 21.6%, now holding 0.13% of the company.

Shimmick Corporation (NASDAQ:SHIM - ) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 17,800 shares, a drop of 61.1% from the August 31st total of 45,700 shares. Approximately 0.5% of the company's shares are sold short. Based on an average daily trading volume, of 55,500 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 55,500 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.5% of the company's shares are sold short.

Shimmick Price Performance

NASDAQ SHIM traded down $0.03 during trading hours on Thursday, reaching $2.90. The company's stock had a trading volume of 12,055 shares, compared to its average volume of 30,623. The firm has a fifty day simple moving average of $2.61 and a 200-day simple moving average of $2.00. The stock has a market cap of $102.43 million, a P/E ratio of -1.70 and a beta of 0.77. Shimmick has a 52 week low of $1.30 and a 52 week high of $3.78.

Insider Transactions at Shimmick

In related news, Director Mitchell B. Goldsteen sold 30,805 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $2.23, for a total value 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. This trade represents a 0.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 180,802 shares of company stock valued at $385,912. 67.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Shimmick stock. Thompson Davis & CO. Inc. grew its position in shares of Shimmick Corporation (NASDAQ:SHIM - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,000 shares of the company's stock after purchasing an additional 8,000 shares during the quarter. Thompson Davis & CO. Inc. owned about 0.13% of Shimmick worth $81,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.

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