Shimmick (NASDAQ:SHIM) Price Target Cut to $3.00 by Analysts at Craig Hallum

Shimmick (NASDAQ:SHIM) had its price objective trimmed by Craig Hallum from $4.00 to $3.00 in a report published on Monday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other analysts have also recently weighed in on the company. Roth Mkm cut their price objective on Shimmick from $3.50 to $3.00 and set a neutral rating on the stock in a research report on Monday. Roth Capital cut Shimmick from a strong-buy rating to a hold rating in a research note on Tuesday, May 14th.

Shimmick Trading Up 0.3 %

Shares of Shimmick stock opened at $3.09 on Monday. The business has a 50 day moving average of $2.62 and a 200 day moving average of $3.75. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.84 and a current ratio of 0.84. Shimmick has a 52 week low of $1.47 and a 52 week high of $7.99.

Institutional Investors Weigh In On Shimmick

Hedge funds and other institutional investors have recently bought and sold shares of the business. Perritt Capital Management Inc boosted its position in shares of Shimmick by 140.7% in the 2nd quarter. Perritt Capital Management Inc now owns 36,100 shares of the company’s stock worth $56,000 after purchasing an additional 21,100 shares in the last quarter. Skylands Capital LLC bought a new stake in Shimmick in the fourth quarter worth $300,000. Sanders Morris Harris LLC grew its stake in shares of Shimmick by 8.3% in the second quarter. Sanders Morris Harris LLC now owns 609,892 shares of the company’s stock worth $945,000 after acquiring an additional 46,788 shares during the last quarter. 1492 Capital Management LLC bought a new position in shares of Shimmick during the fourth quarter valued at $1,997,000. Finally, Pacific Ridge Capital Partners LLC purchased a new position in shares of Shimmick in the 4th quarter worth about $2,580,000. 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.