Key Points
- Director Mitchell Goldsteen sold 125,000 shares of Shimmick (NASDAQ:SHIM) on March 17 at an average price of $2.86 for total proceeds of $357,500, leaving him with 20,974,873 shares (a 0.59% reduction) valued at about $59.99 million.
- Recent quarter missed expectations: Shimmick reported ($0.07) EPS versus a ($0.05) consensus and revenue of $100.41 million versus $110.90 million, and analysts forecast a -$2.48 EPS for the current fiscal year.
- Mixed analyst views with a consensus target of $5.50: Two analysts rate the stock a Buy and one a Sell, the market cap is ~$110.08 million, and the share price has traded between $1.30 and $4.47 over the past year (current around $3.05).
Shimmick Corporation (NASDAQ:SHIM - Get Free Report) Director Mitchell Goldsteen sold 125,000 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $2.86, for a total value of $357,500.00. Following the completion of the transaction, the director owned 20,974,873 shares of the company's stock, valued at $59,988,136.78. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shimmick Price Performance
NASDAQ SHIM opened at $3.05 on Friday. The business's fifty day moving average is $3.64 and its 200-day moving average is $3.00. The stock has a market capitalization of $110.08 million, a price-to-earnings ratio of -4.18 and a beta of 0.57. Shimmick Corporation has a one year low of $1.30 and a one year high of $4.47.
Shimmick (NASDAQ:SHIM - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $100.41 million for the quarter, compared to the consensus estimate of $110.90 million. Research analysts expect that Shimmick Corporation will post -2.48 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. Roth Mkm raised shares of Shimmick from a "neutral" rating to a "buy" rating and set a $5.00 target price for the company in a research report on Friday, March 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Shimmick in a research note on Monday, December 29th. Finally, Craig Hallum raised Shimmick from a "hold" rating to a "buy" rating and set a $6.00 price objective for the company in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $5.50.
Get Our Latest Analysis on Shimmick
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. Avanza Fonder AB increased its position in shares of Shimmick by 19.4% during the fourth quarter. Avanza Fonder AB now owns 23,878 shares of the company's stock valued at $70,000 after buying an additional 3,878 shares during the period. Thompson Davis & CO. Inc. lifted its holdings in shares of Shimmick by 100.0% in the third quarter. Thompson Davis & CO. Inc. now owns 110,000 shares of the company's stock worth $287,000 after buying an additional 55,000 shares in the last quarter. Finally, Sanders Morris Harris LLC boosted its position in shares of Shimmick by 8.1% in the third quarter. Sanders Morris Harris LLC now owns 809,667 shares of the company's stock valued at $2,113,000 after acquiring an additional 60,494 shares during the period. Institutional investors own 6.94% of the company's stock.
About Shimmick
(
Get Free Report)
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. It serves federal, state, and local governments. The company was formerly known as SCCI National Holdings, Inc and changed its name to Shimmick Corporation in September 2023.
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