Shimmick Corporation (NASDAQ:SHIM) Short Interest Update
Shimmick Corporation (NASDAQ:SHIM) experienced a significant increase in short interest in July, rising 73.1% to 79,800 shares. Currently, 2.2% of the company's shares are short sold, with a days-to-cover ratio of 1.8 days based on an average trading volume of 43,700 shares. Additionally, insider transactions revealed that Director Mitchell B. Goldsteen sold 29,639 shares, reducing his stake slightly. Institutional investors have also adjusted their positions, with notable increases from Sanders Morris Harris LLC and Thompson Davis & CO. Inc. Shimmick's stock opened at $2.39, with a market cap of $84.30 million.
Insider Transactions at Shimmick
In other Shimmick news, Director Mitchell B. Goldsteen sold 29,639 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1.99, for a total transaction of $58,981.61. Following the sale, the director owned 21,353,437 shares in the company, valued at $42,493,339.63. This represents a 0.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 222,131 shares of company stock valued at $430,616 in the last ninety days. Company insiders own 77.00% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Sanders Morris Harris LLC increased its position in shares of Shimmick by 0.8% in the 2nd quarter. Sanders Morris Harris LLC now owns 749,173 shares of the company's stock valued at $1,281,000 after purchasing an additional 6,232 shares during the last quarter. Thompson Davis & CO. Inc. grew its stake 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 worth $81,000 after purchasing an additional 8,000 shares in the last quarter. Finally, LPL Financial LLC purchased a new position in Shimmick in the fourth quarter valued at $284,000. Hedge funds and other institutional investors own 6.94% of the company's stock.
Shimmick Stock Performance
Shares of Shimmick stock opened at $2.39 on Monday. The business has a 50-day simple moving average of $1.88 and a 200-day simple moving average of $1.81. Shimmick has a one year low of $1.30 and a one year high of $3.78. The company has a market cap of $84.30 million, a PE ratio of -1.40 and a beta of 0.82.
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.
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