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

Key Points

• Wall Street Zen upgraded Shimmick from “sell” to “hold,” while Weiss Ratings maintained a “sell (D-)” rating. Analysts’ consensus remains “Hold,” with a $5.50 price target.
• Shimmick shares opened at $3.71, with a market capitalization of approximately $153 million and a 52-week range of $1.95 to $6.76.
• The company beat quarterly EPS expectations, reporting a loss of $0.01 per share versus the expected $0.02 loss, but revenue of $106.62 million fell short of the $121.85 million forecast.

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

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Shimmick in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Shimmick has a consensus rating of "Hold" and a consensus price target of $5.50.

Shimmick Stock Performance

Shares of SHIM opened at $3.71 on Friday. The stock has a market capitalization of $153.37 million, a P/E ratio of -8.24 and a beta of 0.78. The company's fifty day moving average is $3.86 and its two-hundred day moving average is $4.00. Shimmick has a 1 year low of $1.95 and a 1 year high of $6.76.

Shimmick (NASDAQ:SHIM - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. The firm had revenue of $106.62 million for the quarter, compared to analysts' expectations of $121.85 million. Sell-side analysts predict that Shimmick will post -0.08 EPS for the current year.

Institutional Trading of Shimmick

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Shimmick in the 2nd quarter worth $1,048,000. Bank of New York Mellon Corp purchased a new stake in Shimmick during the second quarter valued at about $47,000. GSA Capital Partners LLP purchased a new stake in Shimmick during the second quarter valued at about $53,000. Walleye Capital LLC acquired a new stake in Shimmick during the second quarter worth about $578,000. Finally, Renaissance Technologies LLC acquired a new stake in Shimmick during the first quarter worth about $131,000. 6.94% of the stock is 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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