Shimmick (NASDAQ:SHIM) Trading Down 4.9% - Time to Sell?

Key Points

• Shimmick Corporation's stock price decreased by 4.9% to $2.70, with trading volumes falling 12% below average.
• The company has received a "sell (d-)" rating from Weiss Ratings, and analysts have an average rating of "Sell" on the stock.
• Director Mitchell B. Goldsteen sold 9,229 shares recently, as part of a trend where insiders have sold 169,815 shares in the last 90 days.

Shimmick Corporation (NASDAQ:SHIM - Get Free Report) fell 4.9% during mid-day trading on Tuesday . The stock traded as low as $2.70 and last traded at $2.70. 22,157 shares were traded during mid-day trading, a decline of 12% from the average session volume of 25,148 shares. The stock had previously closed at $2.84.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Shimmick in a report on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of "Sell".

Shimmick Trading Down 4.9%

The stock has a 50-day simple moving average of $2.67 and a 200 day simple moving average of $2.04. The company has a market cap of $95.36 million, a price-to-earnings ratio of -1.58 and a beta of 0.76.

Insiders Place Their Bets

In other Shimmick news, Director Mitchell B. Goldsteen sold 9,229 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $3.32, for a total transaction of $30,640.28. Following the sale, the director directly owned 21,125,079 shares of the company's stock, valued at approximately $70,135,262.28. This trade represents a 0.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 169,815 shares of company stock worth $364,403. 77.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Shimmick

A hedge fund recently raised its stake in Shimmick stock. Thompson Davis & CO. Inc. boosted its stake in shares of Shimmick Corporation (NASDAQ:SHIM - Free Report) by 21.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 45,000 shares of the company's stock after purchasing an additional 8,000 shares during the period. Thompson Davis & CO. Inc. owned approximately 0.13% of Shimmick worth $81,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 6.94% of the company's stock.

About Shimmick

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.