Shimmick Co. (NASDAQ:SHIM) Sees Large Decline in Short Interest

Shimmick Co. (NASDAQ:SHIM) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 144,400 shares, a drop of 36.7% from the December 31st total of 228,100 shares. Approximately 4.3% of the shares of the stock are short sold. Based on an average daily volume of 443,900 shares, the short-interest ratio is presently 0.3 days.

Insider Buying and Selling at Shimmick

In other news, Director Mitchell B. Goldsteen sold 325,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.26, for a total transaction of $1,059,500.00. Following the sale, the director now owns 21,583,800 shares in the company, valued at approximately $70,363,188. This trade represents a 1.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 77.00% of the company’s stock.

Institutional Trading of Shimmick

Several institutional investors and hedge funds have recently made changes to their positions in SHIM. E&G Advisors LP purchased a new stake in shares of Shimmick during the 3rd quarter valued at $31,000. State Street Corp purchased a new stake in shares of Shimmick during the 3rd quarter valued at $36,000. Sanders Morris Harris LLC raised its position in shares of Shimmick by 20.7% during the 4th quarter. Sanders Morris Harris LLC now owns 712,665 shares of the company’s stock valued at $1,846,000 after buying an additional 122,442 shares in the last quarter. Finally, Avanza Fonder AB purchased a new position in Shimmick in the 4th quarter worth $52,000. Hedge funds and other institutional investors own 6.94% of the company’s stock.

Shimmick Trading Down 3.2 %

Shimmick stock opened at $2.45 on Wednesday. The firm’s fifty day moving average price is $2.63 and its 200-day moving average price is $2.70. The company has a debt-to-equity ratio of 58.60, a quick ratio of 0.80 and a current ratio of 0.80. Shimmick has a fifty-two week low of $1.47 and a fifty-two week high of $7.99.

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.