Shimmick (NASDAQ:SHIM) Stock Price Up 1.5% - Should You Buy?

Shimmick Corporation (NASDAQ:SHIM - Get Free Report)'s share price traded up 1.5% during trading on Wednesday . The company traded as high as $2.07 and last traded at $2.07. 13,524 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 369,617 shares. The stock had previously closed at $2.04.

Shimmick Trading Down 4.8%

The firm has a market capitalization of $76.19 million, a P/E ratio of -0.66 and a beta of 0.80. The business has a 50-day moving average of $1.74 and a 200 day moving average of $1.90.

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

Insider Buying and Selling at Shimmick

In other news, Director Mitchell B. Goldsteen sold 29,639 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1.99, for a total value of $58,981.61. Following the transaction, the director owned 21,353,437 shares of the company's stock, valued at approximately $42,493,339.63. This represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 166,683 shares of company stock valued at $304,158. 67.10% of the stock is owned by insiders.

Institutional Trading of Shimmick

Institutional investors have recently modified their holdings of the company. Thompson Davis & CO. Inc. increased its position in shares of Shimmick by 21.6% during the first quarter. Thompson Davis & CO. Inc. now owns 45,000 shares of the company's stock valued at $81,000 after acquiring an additional 8,000 shares in the last quarter. Sanders Morris Harris LLC increased its position in shares of Shimmick by 4.2% during the first quarter. Sanders Morris Harris LLC now owns 742,941 shares of the company's stock valued at $1,337,000 after acquiring an additional 30,276 shares in the last quarter. LPL Financial LLC bought a new stake in shares of Shimmick during the fourth quarter valued at approximately $284,000. Finally, Pacific Ridge Capital Partners LLC increased its position 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 valued at $1,259,000 after acquiring an additional 141,861 shares in the last quarter. 6.94% of the stock is currently 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.