Shimmick (NASDAQ:SHIM) Shares Up 12.2% - What's Next?

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

Shimmick Stock Down 8.3%

The stock has a market capitalization of $55.24 million, a PE ratio of -0.49 and a beta of 0.75. The firm has a 50 day moving average of $1.61 and a two-hundred day moving average of $2.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 58.60.

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

Hedge Funds Weigh In On Shimmick

Several hedge funds have recently bought and sold shares of the company. Thompson Davis & CO. Inc. increased its position in Shimmick by 21.6% during the first quarter. Thompson Davis & CO. Inc. now owns 45,000 shares of the company's stock worth $81,000 after buying an additional 8,000 shares in the last quarter. LPL Financial LLC purchased a new position in Shimmick during the fourth quarter worth $284,000. Pacific Ridge Capital Partners LLC increased its position in 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 buying an additional 141,861 shares in the last quarter. Finally, Sanders Morris Harris LLC increased its position in Shimmick by 4.2% during the first quarter. Sanders Morris Harris LLC now owns 742,941 shares of the company's stock worth $1,337,000 after buying an additional 30,276 shares in the last quarter. 6.94% of the stock is owned by hedge funds and other institutional investors.

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.