Shimmick (NASDAQ:SHIM) Trading 12.2% Higher - Should You Buy?

Shares of Shimmick Corporation (NASDAQ:SHIM - Get Free Report) shot up 12.2% on Tuesday . The company traded as high as $1.80 and last traded at $1.75. 31,331 shares were traded during trading, a decline of 92% from the average session volume of 383,610 shares. The stock had previously closed at $1.56.

Shimmick Stock Performance

The stock has a market capitalization of $58.86 million, a P/E ratio of -0.52 and a beta of 0.75. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 58.60. The company has a 50-day moving average price of $1.62 and a two-hundred day moving average price of $1.97.

Shimmick (NASDAQ:SHIM - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.09. Shimmick had a negative net margin of 20.98% and a negative return on equity of 9,647.06%. The business had revenue of $122.00 million for the quarter, compared to analyst estimates of $94.35 million. During the same quarter in the prior year, the firm posted ($1.15) EPS. Equities analysts expect that Shimmick Corporation will post -2.48 earnings per share for the current year.

Institutional Investors Weigh In On Shimmick

A number of institutional investors and hedge funds have recently made changes to their positions in SHIM. Sanders Morris Harris LLC increased its stake in Shimmick by 4.2% in the 1st quarter. Sanders Morris Harris LLC now owns 742,941 shares of the company's stock worth $1,337,000 after acquiring an additional 30,276 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in shares of Shimmick by 41.2% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 486,160 shares of the company's stock worth $1,259,000 after purchasing an additional 141,861 shares in the last quarter. LPL Financial LLC bought a new position in shares of Shimmick in the fourth quarter worth approximately $284,000. Finally, Thompson Davis & CO. Inc. increased its position in shares of Shimmick by 21.6% in the first quarter. Thompson Davis & CO. Inc. now owns 45,000 shares of the company's stock worth $81,000 after purchasing an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors 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.