Insider Selling: Shimmick Co. (NASDAQ:SHIM) Director Sells 7,900 Shares of Stock

Shimmick Co. (NASDAQ:SHIM) Director Mitchell B. Goldsteen sold 7,900 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1.62, for a total value of $12,798.00. Following the transaction, the director now directly owns 21,568,650 shares in the company, valued at $34,941,213. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Shimmick Stock Down 1.8 %

NASDAQ:SHIM opened at $1.67 on Monday. The firm has a market capitalization of $56.44 million, a price-to-earnings ratio of -0.43 and a beta of 0.59. Shimmick Co. has a 1-year low of $1.47 and a 1-year high of $7.05. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 58.60. The business’s fifty day moving average price is $2.27 and its 200 day moving average price is $2.43.

Shimmick (NASDAQ:SHIM) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.62). Shimmick had a negative net margin of 20.16% and a negative return on equity of 355.53%. The business had revenue of $103.55 million for the quarter, compared to analyst estimates of $118.90 million. During the same period in the previous year, the firm posted ($0.59) earnings per share. On average, sell-side analysts forecast that Shimmick Co. will post -2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. State Street Corp acquired a new position in Shimmick in the 3rd quarter worth about $36,000. Avanza Fonder AB acquired a new position in Shimmick in the 4th quarter worth about $52,000. Thompson Davis & CO. Inc. acquired a new position in Shimmick in the 4th quarter worth about $96,000. LPL Financial LLC acquired a new position in Shimmick in the 4th quarter worth about $284,000. Finally, Pacific Ridge Capital Partners LLC increased its position in Shimmick by 41.2% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 486,160 shares of the company’s stock worth $1,259,000 after purchasing an additional 141,861 shares during the last quarter. 6.94% of the stock is owned by institutional investors and hedge funds.

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.