Shimmick Corporation (NASDAQ:SHIM) Short Interest Update

Key Points

• Short interest fell by 37.4% to 17,119 shares as of April 15, representing about 0.1% of the stock and a days-to-cover ratio of 0.1 days.
• Director Mitchell B. Goldsteen sold 125,000 shares at an average price of $2.86 on March 17, yet insiders still hold a commanding 77% of Shimmick's shares.
• Analysts are mixed—two Buys and one Sell—producing a consensus rating of Hold with a $5.50 target; the stock recently opened at $5.91 (one‑year high $5.92) and has a market cap of about $214.5 million.

Shimmick Corporation (NASDAQ:SHIM - Get Free Report) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totaling 17,119 shares, a decrease of 37.4% from the March 31st total of 27,337 shares. Based on an average daily trading volume, of 201,181 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company's stock are sold short.

Shimmick Stock Performance

Shimmick stock opened at $5.91 on Monday. The stock has a 50-day moving average of $3.83 and a two-hundred day moving average of $3.24. Shimmick has a one year low of $1.30 and a one year high of $5.92. The stock has a market cap of $214.53 million, a PE ratio of -8.10 and a beta of 0.43.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SHIM. Roth Mkm raised Shimmick from a "neutral" rating to a "buy" rating and set a $5.00 price objective on the stock in a research report on Friday, March 13th. Wall Street Zen raised Shimmick to a "hold" rating in a research report on Saturday. Craig Hallum raised Shimmick from a "hold" rating to a "buy" rating and set a $6.00 price objective on the stock in a research report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Shimmick in a research report on Friday, March 27th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $5.50.

Insiders Place Their Bets

In related news, Director Mitchell B. Goldsteen sold 125,000 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $2.86, for a total transaction of $357,500.00. Following the sale, the director owned 20,974,873 shares of the company's stock, valued at $59,988,136.78. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 77.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Shimmick

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Avanza Fonder AB raised its stake in Shimmick by 19.4% in the fourth quarter. Avanza Fonder AB now owns 23,878 shares of the company's stock valued at $70,000 after buying an additional 3,878 shares during the last quarter. Thompson Davis & CO. Inc. raised its stake in Shimmick by 100.0% in the third quarter. Thompson Davis & CO. Inc. now owns 110,000 shares of the company's stock valued at $287,000 after buying an additional 55,000 shares during the last quarter. Finally, 1492 Capital Management LLC raised its stake in Shimmick by 46.0% in the first quarter. 1492 Capital Management LLC now owns 149,812 shares of the company's stock valued at $550,000 after buying an additional 47,180 shares during the last quarter. 6.94% of the stock is currently owned by hedge funds and other institutional investors.

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. 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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