Shimmick (NASDAQ:SHIM) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Shimmick to a “Hold”, and the stock has a consensus rating of Hold with an average price target of $5.50 (two analysts rate it Buy and one rates it Sell).
• Shares jumped about 4.4%, opening at $5.91 (near the 12‑month high of $5.92); the company has a market cap of approximately $214.5 million and a trailing PE of -8.10, with 50‑ and 200‑day moving averages of $3.83 and $3.23.
• Director Mitchell B. Goldsteen sold 125,000 shares at an average price of $2.86, insiders collectively own about 67.10% of the stock while institutional investors hold only about 6.94%.

Shimmick (NASDAQ:SHIM - Get Free Report) was upgraded by stock analysts at Wall Street Zen to a "hold" rating in a research report issued on Saturday.

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

Shimmick Stock Up 4.4%

Shares of Shimmick stock opened at $5.91 on Friday. Shimmick has a twelve month low of $1.30 and a twelve month high of $5.92. The business has a 50-day moving average price of $3.83 and a 200 day moving average price of $3.23. The firm has a market cap of $214.53 million, a PE ratio of -8.10 and a beta of 0.43.

Insider Transactions at Shimmick

In related news, Director Mitchell B. Goldsteen sold 125,000 shares of Shimmick stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $2.86, for a total value of $357,500.00. Following the sale, the director directly owned 20,974,873 shares in the company, valued at approximately $59,988,136.78. The trade was a 0.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 67.10% of the company's stock.

Institutional Investors Weigh In On Shimmick

Institutional investors have recently bought and sold shares of the company. Avanza Fonder AB boosted its holdings 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 during the last quarter. Thompson Davis & CO. Inc. boosted its holdings in Shimmick by 100.0% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 110,000 shares of the company's stock worth $287,000 after buying an additional 55,000 shares during the last quarter. Finally, 1492 Capital Management LLC boosted its holdings in Shimmick by 46.0% in the 1st quarter. 1492 Capital Management LLC now owns 149,812 shares of the company's stock worth $550,000 after buying an additional 47,180 shares during the last quarter. 6.94% of the stock is currently owned by institutional investors and hedge funds.

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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